TEXT-S&P rates European Collateralised Lease Asset's ABS Deal

Newswire

(The following statement was released by the ratings agency) May 28 - Standard & Poor's Ratings Services has assigned its 'AAA' credit rating to the EUR272.7 million class A fixed-rate notes issued by European Collateralised Lease Asset Transaction Ltd. (Eclat). At the same time, Eclat issued EUR63.9 million class B unrated notes. The notes are backed by German auto lease and residual value (RV) receivables that GMAC Leasing GmbH originated and sold to the issuer. Eclat financed the ...

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