OREANDA-NEWS. Fitch Ratings says VCL Master Residual Value S.A., Compartment 2 notes' ratings will not be affected by the tap issuance of the existing revolving series of the class A and B notes to a total of EUR912.7m and EUR197.3m, respectively.

After the increase, credit enhancement for the class A and B notes will continue to be above the minimum on which Fitch's analysis is based (see "Fitch Assigns VCL Master Residual Value S.A., Compartment 2 Final Ratings", dated 25 November 2015 at www.fitchratings.com).

The increase in revolving series amounts is effective today with aggregate totals
as follows:

Series A 2015-1: EUR39.7m, resulting in an aggregate total of EUR133.7m
Series A 2015-2: EUR46.7m, resulting in an aggregate total of EUR157.3m
Series A 2015-3: EUR58.4m, resulting in an aggregate total of EUR196.6m
Series A 2015-4: EUR70.1m, resulting in an aggregate total of EUR236m
Series A 2015-5: EUR23.3m, resulting in an aggregate total of EUR78.6m
Series B 2015-2: EUR8.2m, resulting in an aggregate total of EUR27.6m
Series B 2015-3: EUR43.3m, resulting in an aggregate total of EUR139.7m

VCL Master Residual Value is a platform for VW Leasing GmbH to securitise, on a revolving basis, residual values.