Fitch Rates Nissan Auto Lease Trust 2012-B

  Fitch Rates Nissan Auto Lease Trust 2012-B

Business Wire

NEW YORK -- October 24, 2012

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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Contact:

Fitch Ratings
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Associate Director
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or
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