Cars Alliance Auto Leases France V 2020-1: Rating Report

On 28 October 2020, DBRS Ratings Limited (DBRS Morningstar) finalised its provisional ratings on the following classes of notes issued by Cars Alliance Auto Leases France V 2020-1 (the Issuer), the first compartment of a French Fonds Commun de Titrisation (FCT), in the context of a securitisation transaction that follows a standard structure under French securitisation law.