Fitch Affirms Ford Credit Auto Lease Trust 2011-A

CHICAGO--(BUSINESS WIRE)--Fitch Ratings has affirmed four classes of notes issued by Ford Credit Auto Lease Trust 2011-A as detailed below:

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

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

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

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

The affirmations reflect the increase in credit enhancement since closing and strong collateral performance. Credit and residual performance has been well within Fitch's expectations to date. The Stable Outlook reflects 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 economic conditions and their impact and the trust level performance variables and update the ratings accordingly.

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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