Moody’s: ‘Aaa’ for $750m Nissan Auto ABS

Published October 15, 2012 2:03 PM EDT 1 Min Read

Moody’s Investors Service said Monday that it had given a provisional rating of ‘Aaa (sf)’ to roughly $750 million in notes backed by receivables from Nissan Motor Acceptance Corporation.

The collateral behind the transaction consists of closed-end retail automobile lease contracts and related new Nissan and Infiniti vehicles.

The deal is made up of four ‘A’ classes, and total credit enhancement is at least 21.50%, the minimum required to achieve a top notch rating.

JP Morgan, BofA Merrill Lynch and Societe Generale are the arrangers, as previously reported by ASR.

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