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
