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Fitch Rates Nissan Auto Lease Trust 2012-B

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NEW YORK--(BUSINESS WIRE)--

Fitch Ratings assigns ratings and Rating Outlooks to Nissan Auto Lease Trust 2012-B as detailed below:

--$107,000,000 Class A-1 Notes 'F1+sf';

--$143,000,000 Class A-2a Notes 'AAAsf' Outlook Stable;

--$196,000,000 Class A-2b Notes 'AAAsf' Outlook Stable;

--$214,000,000 Class A-3 Notes 'AAAsf' Outlook Stable;

--$90,000,000 Class A-4 Notes 'AAAsf' Outlook Stable.

Fitch's stress and rating sensitivity analysis are discussed in the presale report titled 'Nissan Auto Lease Trust 2012-B', dated Oct. 15, 2012, which is available on Fitch's web site.

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.

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:

Criteria for Rating U.S. Auto Lease ABS

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=678137

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679923

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Fitch Ratings
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Margaret Myers
Associate Director
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Chicago, IL 60602
or
Secondary Analyst
Brad Sohl
Senior Director
+1-312-368-3127
or
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Hylton Heard
Managing Director
+1-212-908-0214
or
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Sandro Scenga, +1-212-908-0278 (New York)
sandro.scenga@fitchratings.com

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