TEXT-Fitch rates SC Germany Auto 2010-1 ABS notes

Newswire

(The following statement was released by the rating agency) July 29 - Fitch Ratings has assigned SC Germany Auto 2010-1 UG's (haftungsbeschraenkt) issue of EUR600m asset-backed notes ratings as follows: EUR567m class A (ISIN: XS0525278304), due August 2019: 'AAA'; Outlook Stable; Loss Severity Rating (LS) of 'LS-1' EUR33m class B (ISIN: XS0525278486), due August 2019: 'A'; Outlook Stable; 'LS-3' This transaction is a repeat securitisation of auto loans originated by Santander Consumer Bank ...

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