OREANDA-NEWS. Fitch Ratings says VCL Master S. A.'s Compartment 1 notes' ratings will not be affected by the tap issuance of the existing revolving series of the class A and B notes to a total of EUR1,231.9m and EUR50.6m, respectively.

After the increase, credit enhancement for the class A and B notes will continue to be above the minimum on which Fitch's analysis is based (see "Fitch Affirms VCL Master S. A.'s Compartment 1's Notes", dated 25 September 2015 at www. fitchratings. com).

The increase in revolving series amounts is effective today with aggregate totals as follows:

Series A 2010-1: unchanged at EUR39.4m

Series A 2010-2: unchanged at EUR48.4m

Series A 2010-4: EUR190.4m, resulting in an aggregate total of EUR936.3m

Series A 2011-2: unchanged at EUR20.9m

Series A 2012-1: unchanged at EUR14.8m

Series A 2012-2: unchanged at EUR25.5m

Series A 2012-3: unchanged at EUR25.5m

Series A 2012-4: unchanged at EUR47.6m

Series A 2013-1: unchanged at EUR25.5m

Series A 2013-2: unchanged at EUR23.7m

Series A 2015-1: unchanged at EUR24.3m

Series B 2014-1: unchanged at EUR4.7m

Series B 2014-2: unchanged at EUR3.7m

Series B 2014-3: unchanged at EUR4.1m

Series B 2014-4: EUR7.6 m, resulting in an aggregate total of EUR38.1m

VCL Master is a platform for VW Leasing GmbH to securitise, on a revolving basis, German auto lease receivables.