Mercedes-Benz Group AG: Rating Report

Ratings

• Mercedes-Benz Finance Canada Inc.

  Date Issued	Debt Rated	Rating	Trend	Action	Attributesi US = Lead Analyst based in USA CA = Lead Analyst based in Canada EU = Lead Analyst based in EU UK = Lead Analyst based in UK E = EU endorsed U = UK endorsed Unsolicited Participating With Access Unsolicited Participating Without Access Unsolicited Non-participating
  16-Nov-23	Medium-Term Notes	A	Stb	Upgraded	CA U E
  16-Nov-23	Commercial Paper	R-1 (low)	Stb	Confirmed	CA U E

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• Mercedes-Benz Finance North America LLC

  Date Issued	Debt Rated	Rating	Trend	Action	Attributesi US = Lead Analyst based in USA CA = Lead Analyst based in Canada EU = Lead Analyst based in EU UK = Lead Analyst based in UK E = EU endorsed U = UK endorsed Unsolicited Participating With Access Unsolicited Participating Without Access Unsolicited Non-participating
  16-Nov-23	Senior Debt	A	Stb	Upgraded	CA U E
  16-Nov-23	Commercial Paper	R-1 (low)	Stb	Confirmed	CA U E

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• Mercedes-Benz Group AG

  Date Issued	Debt Rated	Rating	Trend	Action	Attributesi US = Lead Analyst based in USA CA = Lead Analyst based in Canada EU = Lead Analyst based in EU UK = Lead Analyst based in UK E = EU endorsed U = UK endorsed Unsolicited Participating With Access Unsolicited Participating Without Access Unsolicited Non-participating
  16-Nov-23	Issuer Rating	A	Stb	Upgraded	CA U E
  16-Nov-23	Senior Debt	A	Stb	Upgraded	CA U E

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• Mercedes-Benz International Finance B.V.

  Date Issued	Debt Rated	Rating	Trend	Action	Attributesi US = Lead Analyst based in USA CA = Lead Analyst based in Canada EU = Lead Analyst based in EU UK = Lead Analyst based in UK E = EU endorsed U = UK endorsed Unsolicited Participating With Access Unsolicited Participating Without Access Unsolicited Non-participating
  16-Nov-23	Medium-Term Notes	A	Stb	New Rating	CA U E

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