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Fitch Affirms 5 and Revises Outlook on 2 Classes of GE Equipment Tra..

Datum nieuwsfeit: 15-06-2012
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Fitch Affirms 5 and Revises Outlook on 2 Classes of GE Equipment Tra..


June 14, 2012 06:07 PM Eastern Daylight Time

Fitch Affirms 5 and Revises Outlook on 2 Classes of GE Equipment Transportation LLC Series 2011-1

NEW YORK--(BUSINESS WIRE)--Fitch Ratings affirms five and revises the Rating Outlook on two classes of GE Equipment Transportation L.L.C. series 2011-1 (GE ET 2011-1) as follows:

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

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

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

--Class B affirmed at 'AAsf'; Outlook revised to Positive from Stable;

--Class C affirmed at 'Asf'; Outlook revised to Positive from Stable.

The affirmation of all outstanding classes is reflective of credit enhancement levels that are consistent with the rating and strong collateral performance to date. As of May 2012 reporting period, cumulative net losses of 9 basis points (bps) are below Fitch's initial expectations for the pool.

The Positive Outlook designation for the class B and C notes reflects Fitch's expectation for loss coverage to continue improving as the transaction amortizes and credit enhancement levels continue to build. Fitch will continue to closely monitor this transaction and may take additional rating actions in the event of changes in performance and credit enhancement measures.

The review of GE ET 2011-1 is consistent with Fitch's 'Criteria for Rating U.S. Equipment Lease and Loan ABS' dated Jan. 11, 2012.

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 Jan. 11, 2012;

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

Applicable Criteria and Related Research:

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

www.fitchratings.com/creditdesk/reports/report_frame.cfm'rpt_id=663732

Global Structured Finance Rating Criteria

www.fitchratings.com/creditdesk/reports/report_frame.cfm'rpt_id=679923

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: 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.

Contacts

Fitch Ratings
Primary Analyst
Thomas Kaiser, CPA, +1-312-368-3338
Analyst
Fitch, Inc.
70 W Madison Street
Chicago, IL 60602
or
Committee Chairperson
Bradley Sohl, +1-312-368-3127
Senior Director
or
Media Relations
Sandro Scenga, New York, +1-212-908-0278
sandro.scenga@fitchratings.com



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