SC Germany Consumer 2017-1 UG (haftungsbeschränkt): Presale Report

DBRS Ratings Limited (DBRS) assigned provisional ratings to the Class A, Class B, Class C and Class D Notes (collectively with the unrated Class E Notes, the Notes) to be issued by SC Germany Consumer 2017-1 UG (the Issuer) as follows:

-- AA (sf) to the Class A Fixed-Rate Notes
-- A (sf) to the Class B Fixed-Rate Notes
-- BBB (sf) to the Class C Fixed-Rate Notes
-- BB (high) (sf) to the Class D Floating-Rate Notes

The rating of the Class A Notes addresses the timely payment of interest and ultimate payment of principal by the legal final maturity date. The ratings of the Class B, Class C and Class D Notes address the ultimate payment of interest and principal by the legal final maturity date.