Fitch Rates Santander Drive Auto Receivables Trust 2012-6

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings assigns ratings and Rating Outlooks to the Santander Drive Auto Receivables Trust 2012-6 as detailed below:

--$429,500,000 class A-1 notes 'F1+sf';

--$390,850,000 class A-2 notes 'AAAsf'; Outlook Stable;

--$162,700,000 class A-3 notes 'AAAsf'; Outlook Stable;

--$182,210,000 class B notes 'AAsf'; Outlook Stable;

--$203,390,000 class C notes 'Asf'; Outlook Stable;

--$131,350,000 class D notes 'BBBsf'; Outlook Stable;

--$50,850,000 class E notes 'BBsf'; Outlook Stable.

Fitch's stress and rating sensitivity analysis are discussed in the presale report titled 'Santander Drive Auto Receivables Trust 2012-6', dated Oct. 1, 2012, which is available on Fitch's web site, www.fitchratings.com.

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.

Applicable Criteria and Related Research:

--'Rating Criteria for U.S. Auto Loan ABS', April 16, 2012;

--'Global Structured Finance Rating Criteria', June 6, 2012;

--'Structured Finance Tranche Thickness Metrics', July 29, 2011.

Applicable Criteria and Related Research:

Structured Finance Tranche Thickness Metrics

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=646951

Global Structured Finance Rating Criteria

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

Rating Criteria for U.S. Auto Loan ABS

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=674859

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Fitch Ratings
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Source: Fitch Ratings