Fitch Rates BMW Vehicle Lease Trust 2013-1

CHICAGO--()--Fitch Ratings assigns ratings and Rating Outlooks to BMW Vehicle Lease Trust 2013-1 as follows:

--$229,000,000 class A-1 notes 'F1+sf';

--$360,000,000 class A-2 notes 'AAAsf', Outlook Stable;

--$336,000,000 class A-3 notes 'AAAsf', Outlook Stable;

--$75,000,000 class A-4 notes 'AAAsf', Outlook Stable.

Fitch's stress and rating sensitivity analysis are discussed in the presale report titled 'BMW Vehicle Lease Trust 2013-1', dated Jan. 14, 2013, which is available on Fitch's web site.

Additional information is available at 'www.fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.

Applicable Criteria and Related Research:

--'Criteria for Rating U.S. Auto Lease ABS' dated May 14, 2012';

--'Global Structured Finance Rating Criteria' dated June 6, 2012.

Applicable Criteria and Related Research:

Criteria for Rating U.S. Auto Lease ABS

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=678137

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679923

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