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You can use multiple AND statements in a CASE statement like this:
WHEN K1>=59.58 AND L1>=25.25 THEN "R"
WHEN K1>=55 AND L1>=10 THEN "Y"
WHEN K1>=55 AND L1>=5 THEN "G"
Notice how you can keep repeating the WHEN clause. There has to be at least one and at the end it makes good sense to have an ELSE statement as a catch all.
Hope this helps