Cars Alliance Auto Leases France Master: Rating Report

DBRS Ratings Limited (DBRS Morningstar) assigned AAA (sf) ratings to the Class A 2020-1 Notes, Class A 2020-2 Notes and the Class A 2020-3 Notes issued by Cars Alliance Auto Leases France Master, (the Issuer). The Issuer is the second compartment of a French Fonds Commun de Titrisation, in the context of a securitisation transaction that follows a standard structure under French securitisation law. For insight beyond the ratings, see the rating report.