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Presale: Red & Black Auto Germany 7 UG (haftungsbeschränkt)

S&P Global Ratings has assigned its preliminary credit ratings to Red & Black Auto Germany 7 UG (haftungsbeschränkt)'s (Red & Black Auto 7's) asset-backed floating-rate class A, B, C, and D notes. At closing, Red & Black Auto 7 will also issue unrated class E notes.