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Fitch Affirms Ford Credit Auto Lease Trust 2011-B

CHICAGO--(BUSINESS WIRE)-- Fitch Ratings has affirmed the Ford Credit Auto Lease Trust 2011-B notes as detailed below:

--Class A-2 notes at 'AAAsf'; Rating Outlook Stable;

--Class A-3 notes at 'AAAsf'; Rating Outlook Stable;

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

--Class B notes at 'AAsf'; Rating Outlook Stable.

The affirmations reflect each class of notes' ability to pass stress case scenarios consistent with the current rating levels. The Stable Outlooks reflect 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' May 14, 2012;

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

Applicable Criteria and Related Research:

Global Structured Finance Rating Criteria

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

Criteria for Rating U.S. Auto Lease ABS

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

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Fitch Ratings
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Margaret Rowe, +1 312-368-3167
Associate Director
Fitch, Inc.
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Chicago, IL 60602
or
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Steven Stubbs, +1 212-908-0676
Senior Director
or
Media Relations:
Brian Bertsch, +1 212-908-0549
Email: brian.bertsch@fitchratings.com

Source: Fitch Ratings