Retail Automotive CP Germany 2021 UG (Haftungsbeschränkt): Rating Report

On 29 October 2021, DBRS Ratings GmbH (DBRS Morningstar) assigned ratings to the following classes of notes issued by Retail Automotive CP Germany 2021 UG (Haftungsbeschränkt):

-- Class A Notes at AAA (sf)
-- Class B Notes at AA (high) (sf)
-- Class C Notes at A (high) (sf)
-- Class D Notes at BBB (high) (sf)
-- Class E Notes at BBB (low) (sf)
-- Class F Notes at BB (sf)

DBRS Morningstar did not assign ratings to the Class G Notes issued in this transaction.