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Ratings Assigned To VW Leasing's VCL 13 German Auto-Lease ABS Transaction Apr 11
Standard & Poors, April 2011
OVERVIEW We have assigned ratings to VCL Multi-Compartment's VCL 13 transaction. This is VW Leasing's 19th auto-lease transaction and the third lease transaction using the Luxembourg SPE, VCL Multi-Compartment. FRANKFURT (Standard & Poor's) April 26, 2011--Standard & Poor's Ratings Services has assigned credit ratings to the -953 million asset-backed floating-rate notes that VCL Multi-Compartment S.A. issued, acting for and on behalf of its Compartment VCL 13 (VCL 13) (see list below). German auto-lease receivables comprise the collateral, originated and sold by Volkswagen Leasing GmbH (VW Leasing). This is VW Leasing's 19th auto-lease transaction and the third lease transaction using the Luxembourg special-purpose entity, VCL Multi-Compartment. A share of the securitized receivables has previously been refinanced through the existing warehousing facility,...
Companies mentioned in this report are: VCL Multi-Compartment S.A., Compartment VCL 13
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
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VCL Multi-Compartment S.A., Compartment VCL 13