S&P Global Ratings has assigned its credit ratings to RevoCar 2024-1 UG (haftungsbeschränkt)'s asset-backed floating-rate class A, B-Dfrd, C-Dfrd, and D-Dfrd notes. At closing, RevoCar 2024-1 also issued unrated class E-Dfrd notes. The cash flow results have improved since the preliminary ratings, driven by tighter liability margins and a higher weighted average loan interest rate, resulting in higher excess spread. The pool in RevoCar 2024-1 comprises German auto loan receivables that Bank11 für Privatkunden und Handel GmbH (Bank11) originated and granted to private (94.4%) and commercial customers (5.6%) for the purchase of used (65.6%) and new vehicles (34.4%), primarily cars. The portfolio also includes 3.0% of loans for motorbikes and leisure vehicles. This transaction is Bank11's fourteenth German public ABS