The preliminary ratings assigned to Ally Auto Receivables Trust 2022-1's (AART 2022-1's) $1.08 billion asset-backed notes series 2022-1 reflect: The availability of approximately 8.3%, 6.4%, 4.8%, and 3.5% credit support for the class A, B, C, and D notes, respectively, based on stressed cash flow scenarios including excess spread. These credit support levels provide coverage of more than 5.00x and 4.50x our 1.05%-1.15% expected net loss range to the class A and B notes, respectively, and approximately 4.00x and 3.00x to the C and D notes, respectively, and are commensurate with the assigned preliminary ratings (see the S&P Global Ratings' Expected Loss and Cash Flow Modeling Assumptions And Results sections). The timely interest and full principal payments made under the