Moody's has assigned provisional global scale ratings (GSR) and national scale ratings (NSR) to the ZAR2bn issuance of Auto Series Investments Limited. This is the ninth public term securitisation of BMW Financial Services (South Africa) and the fifth issuance under the domestic MTN programme established in April 2005.

The portfolio, which has been consolidated with the existing Auto Series Investments pool, consists of auto loans and the contracts mainly finance the purchase of BMWs (72%). The composition of the additional pool is similar in most respects to the existing Auto Series Investments pool, except for the seasoning, which has increased to 36 months after the pool addition and the fact that the additional portfolio does not include residual value contracts and financial leases.