Presale: Enterprise Fleet Financing 2026-4 LLC

Preliminary ratings Class Preliminary rating Type Interest rate(i) Preliminary amount (mil. $) Legal final maturity date A-1 A-1+ (sf) Senior Fixed 188.000 Oct. 20, 2027 A-2 AAA (sf) Senior Fixed 333.000 June 20, 2029 A-3 AAA (sf) Senior Fixed 333.000 Nov. 20, 2030 A-4 AAA (sf) Senior Fixed 146.400 June 20, 2033 Note: This presale report is based on information as of Oct. 22, 2026. The ratings shown are preliminary. This report does not constitute a recommendation to buy, hold, or sell securities. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings. (i)The tranche coupons will be determined on the pricing date. Profile Expected closing date Oct. 30, 2026. Collateral A special unit

...The availability of 7.25% initial hard credit support for the notes, which consists of overcollateralization (O/C) and a cash reserve account of 6.25% and 1.00%, respectively, of the initial pool balance. The O/C builds to a target of 7.77% of the current pool balance and is subject to a floor of 2.08% of the initial pool balance. The 0.50% build in the reserve account does not provide additional credit enhancement in each of our cash flow scenarios because the cumulative charged-off lease ratio does not exceed 3.00% in the first six payment dates. As a result, the reserve account is released to the floor level of 1.00% of the initial pool....

Presale Report