Ford Motor Credit is prepping its second auto lease securitization of the year, according to Fitch Ratings.

The $1 billion Ford Credit Auto Lease Trust (FCALT) 2015-B is backed by an exchange note, which is backed in turn by a pool of closed-end leases on various brands of new vehicles primarily manufactured by Ford Motor Co. The leases were originated by Ford dealers and purchased by one a Ford Motor Credit titling companies.

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