Fitch: No Rating Impact on VCL Master S.A. Compartment 1 from Tap Issuance
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 EUR1.397bn and EUR57.4m, 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.
The increase in revolving series amounts is effective today with aggregate totals
as follows:
Series A 2010-4: EUR262.8m, resulting in an aggregate total of EUR358.1m
Series B 2014-4: EUR10.5m, resulting in an aggregate total of EUR15.5m
VCL Master is a platform for VW Leasing GmbH to securitise, on a revolving basis, German auto lease receivables.
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