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Fitch Takes Various Actions on Ford Credit Auto Lease Trust 2010-B

CHICAGO--(BUSINESS WIRE)-- Fitch Ratings has taken the following rating actions on two classes of notes issued by Ford Credit Auto Lease Trust 2010-B:

--Class A-4 notes affirmed at 'AAAsf'; Outlook Stable;

--Class B notes upgraded to 'AAAsf' from 'AAsf'; Outlook revised to Stable from Positive.

The affirmation and upgrade reflect the increase in credit enhancement since closing and strong collateral performance. Credit and residual performance has been well within Fitch's expectations to date.

The Stable Outlook reflects Fitch's expectation that the notes will remain sufficiently enhanced to cover stressed loss levels consistent with the current ratings.

Fitch will continue to monitor this transaction and may take additional rating action in the event of changes in performance and credit enhancement measures.

Additional information is available at 'www.fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.

The information used to assess these ratings was sourced from the issuer, periodic trustee reports, note valuation reports, and the public domain.

Applicable Criteria and Related Research:

--'Criteria for Rating U.S. Auto Lease ABS' dated May 14, 2012;

--'Global Structured Finance Rating Criteria' dated June 6, 2012.

Applicable Criteria and Related Research:

Criteria for Rating U.S. Auto Lease ABS

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=678137

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679923

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Fitch Ratings
Surveillance Analyst
Margaret Rowe
Associate Director
+1-312-368-3167
Fitch, Inc.
70 West Madison St.
Chicago, IL 60602
or
Committee Chairperson
Bradley Sohl
Senior Director
+1-312-368-3127
or
Media Relations:
Sandro Scenga, +1-212-908-0278 (New York)
sandro.scenga@fitchratings.com

Source: Fitch Ratings