Volkswagen’s latest U.S. auto loan securitization features more longer-term loans and weaker borrowers, according to Fitch Ratings.

The $1 billion Volkswagen Auto Loan Enhanced Trust (VALET) 2014-2 is backed by loans secured by new and used Volkswagen and Audi cars and light-duty trucks. The loans have a weighted average FICO score of 762, in line with the issuer’s prior securitization, 2014-1, issued in April. However the percentage of borrowers with FICO scores that are still prime, but have FICO scores below 700, has risen, to 19.1%. That compares with just 17.72% in the previous transaction.

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