After a quiet close to 2014, the securitization pipeline looks set to rev up again with a $1.6 billion auto lease deal from Mercedes-Benz Financial Services USA (MBFS).

Moody’s Investors Service was hired to rate the deal, Mercedes-Benz Auto Lease Trust (MBALT) 2015-A. On offer are $271 million worth of class A-1, ‘P-1’ rated, money market notes. The issuer will offer $1.12 billion of ‘Aaa’ rated securities over four tranches The notes all have credit enhancement at 16.65%.

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