Market Overview

Fitch Rates CNH Equipment Trust 2013-A

CHICAGO--(BUSINESS WIRE)--

Fitch Ratings has assigned ratings to CNH Equipment Trust 2013-A (CNH 2013-A) as detailed below.

CNH 2013-A

--$256,800,000 class A-1 notes 'F1+sf';

--$380,800,000 class A-2 notes 'AAAsf'; Outlook Stable;

--$398,000,000 class A-3 notes 'AAAsf'; Outlook Stable;

--$188,506,000 class A-4 notes 'AAAsf'; Outlook Stable;

--$28,176,000 class B notes 'Asf'; Outlook Stable.

Fitch's stress and rating sensitivity analysis are discussed in the presale report titled 'CNH Equipment Trust 2013-A,' dated Feb. 11, 2013, which is available on Fitch's website.

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. Equipment Lease and Loan ABS' dated Dec. 28, 2012;

--'Global Structured Finance Rating Criteria' dated June 6, 2012;

--'CNH Equipment Trust 2013-A,' dated Feb. 11, 2013.

Applicable Criteria and Related Research:

Criteria for Rating U.S. Equipment Lease and Loan ABS

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=697250

Global Structured Finance Rating Criteria

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

CNH Equipment Trust 2013-A (US ABS)

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=701118

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.

Fitch Ratings
Primary Analyst
Du Trieu
Senior Director
+1-312-368-2091
70 W. Madison
Fitch Ratings, Inc.
Chicago, IL 60602
or
Secondary Analyst
Peter Manofsky
Director
+1-312-368-2068
or
Committee Chairperson
John H. Bella
Managing Director
+1-212-908-0243
or
Media Relations
Sandro Scenga
+1-212-908-0278
sandro.scenga@fitchratings.com

 

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