...Analysis of Auto Lease ABS: This criteria report describes Fitch Ratings' criteria and approach to analyzing auto lease-backed ABS transactions issued in the U.S. Fitch considers both the quantitative and qualitative factors listed in this criteria report when assigning ratings to auto lease ABS. Deviations from Criteria: In certain cases, such as data limitations, assumptions used in the rating process may be modified or supplemented as Fitch determines appropriate. Deviations from criteria will be disclosed in the applicable transaction rating report. There have been no material changes or additions to the criteria in this update. The updated criteria report for rating U.S. auto lease ABS transactions is effective for new and existing ratings as of April 24 2014; it supersedes, in its entirety, the criteria report titled "Rating Criteria for U.S. Auto Lease ABS," dated April 2013. Existing ratings will continue to be reviewed as part of the ongoing performance analytics process, consistent...
