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Mercedes-Benz (MBGGR A2/A/A): New Issue FV Analysis

CREDIT SUPPLY
  • IPT: Mercedes-Benz GBP Benchmark 2027 UKT+85-90.
  • We see FV at UKT+70a.
  • While MBBGR trades well through TOYOTA (A1/A+) in €, we see that as CSPP driven and have £ FV around 5 wide.

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