Ally Bank is readying $1.679 billion of bonds backed by prime auto loans.

Standard & Poor’s has assigned preliminary ‘AAA’ ratings to three classes of fixed-rate notes to be issued by the transaction, Ally Auto Receivables Trust 2014-1 (AART 2014-1):  $518 million of class A-2 notes maturing in February 2017, $518 million of class A-3 notes maturing in October 2018,  and $126.6 million of class A-4 notes maturing in April 2019.

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