S&P Global Ratings published AAA(sf) ratings for the 1.6 billion yuan class A1 and 2.32 billion yuan class A2 bonds issued by Shanghai International Trust, according to a Friday release.
Shanghai International Trust is the trustee of Generation 2025-1 Retail Auto Mortgage Loan Securitization, which is originated by Genius Auto Finance.
The ratings reflect, among other factors, credit risk related to the underlying collateral portfolio and the available credit support, which are in line with the credit risk under S&P's AAA rating stress.
The notes' rating is also above China's sovereign rating, S&P said.
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