We assigned our preliminary 'AAA (sf)' rating to the class A1 and A2 notes to be issued by Shanghai International Trust Co. Ltd. as trustee of VINZ 2021-1 Retail Auto Loan Asset-Backed Securities (the issuer). This is an auto loan securitization transaction originated by Dongfeng Nissan Auto Finance Co. Ltd. (DNAF). The preliminary ratings reflect the following factors. The credit risk associated with the underlying collateral portfolio and the credit support available are commensurate with our view of credit risk under a 'AAA' rating stress.