Distributing students across classes based on marks

[yashgt]

Name	Marks	Rank	Class
Eddie	20​	6​	C
Tom	10​	10​	A
Jenny	30​	4​	A
Riva	40​	3​	C
Andy	50​	2​	B
Mark	5​	11​	B
Sally	78​	1​	A
Jack	15​	8​	B
****	15​	8​	C
Harry	20​	6​	A
Dom	30​	4​	B

In the above pic, the students are expected to be distributed across classes A, B and C, based on their marks. The student with highest marks goes in A. The once with next highest goes in B. The next highest goes in C. The next goes again to A and so on. What should be the formula to be used in Excel 2013 and above for calculating the Class?

 

[Fluff]

How about

=CHOOSE(MOD(C2+COUNTIFS(C$2:C2,C2)+1,3)+1,"A","B","C")