OREANDA-NEWS. Fitch Ratings says VCL Master Residual Value S.A.'s Compartment 2 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 EUR674.5m and EUR145.8m, 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 Assigns VCL Master Residual Value S.A., Compartment 2 Final Ratings", dated 25 November 2015 at www.fitchratings.com).

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

Series A 2015-1: EUR29.5m, resulting in an aggregate total of EUR94m
Series A 2015-2: EUR34.8m, resulting in an aggregate total of EUR110.6m
Series A 2015-3: EUR43.4m, resulting in an aggregate total of EUR138.2m
Series A 2015-4: EUR52.1m, resulting in an aggregate total of EUR165.9m
Series A 2015-5: EUR17.4m, resulting in an aggregate total of EUR55.3m
Series A 2015-6: EUR34.7m, resulting in an aggregate total of EUR110.5m
Series B 2015-2: EUR6.1m, resulting in an aggregate total of EUR19.4m
Series B 2015-3: EUR39.7m, resulting in an aggregate total of EUR96.4m

VCL Master Residual Value is a platform for VW Leasing GmbH to securitise, on a revolving basis, residual values.