Tue, Mar 25, 3:35 PM (33 days ago)
**Ally Auto Receivables Trust 2024-1 (AART) 10-K Summary** **Company Overview:** Ally Auto Receivables Trust 2024-1 (AART) is a securitization trust sponsored by Ally Bank, with Ally Auto Assets LLC as the depositor. The trust issues notes and certificates backed by auto receivables. **Financial Performance:** The 10-K does not provide specific financial figures for revenue, net income, or operating expenses. However, it confirms that there are no significant obligors or external credit enhancements for the pool assets, indicating a reliance on the underlying auto receivables for performance. **Risk Factors:** AART faces risks typical of auto receivables trusts, including credit risk, prepayment risk, and market risk. Additionally, legal proceedings involving U.S. Bank, the indenture trustee, could potentially impact the trust, although U.S. Bank denies liability and plans to contest the claims vigorously. **Financial Condition:** AART's financial condition is supported by the performance of the underlying auto receivables. There are no material instances of noncompliance with servicing criteria, as reported by the servicing participants, Ally Bank and U.S. Bank Trust Company. **Market Position:** AART does not have any voting or non-voting common equity held by non-affiliates, and its market position is primarily determined by the performance of the auto receivables pool. **Future Outlook:** The future outlook for AART is tied to the performance of the auto receivables market. The trust's structure and the compliance of servicing participants suggest a stable outlook, assuming no significant changes in the auto receivables market or legal proceedings. **Strategic Overview:** AART's strategy focuses on the securitization of auto receivables, with a structure that includes compliance with servicing criteria and legal agreements to support the performance of the notes and certificates issued. **Ticker:** AART does not have a ticker as it is not a publicly traded entity.