OREANDA-NEWS. Fitch Ratings affirms the following ratings:

Enterprise Fleet Financing, LLC Series 2013-1:
--class A-2 at 'AAAsf'; Outlook Stable;
--class A-3 at 'AAAsf'; Outlook Stable.

Enterprise Fleet Financing, LLC Series 2014-1:
--class A-2 at 'AAAsf'; Outlook Stable;
--class A-3 at 'AAAsf'; Outlook Stable.

KEY RATING DRIVERS

The affirmation of the notes reflect the stable performance of the underlying lease receivables as evidenced by low delinquency and loss rates, as well as increasing support provided by credit enhancement.

As compared to the transactions' inceptions, the obligor and industry concentrations remain similar. Fitch's analysis of Enterprise Fleet Financing LLC, Series 2013-1 and 2014-1 incorporates the derivation of net loss expectations utilizing its proprietary Portfolio Credit Model, the results of which continue to support the assigned ratings.

Fitch will continue to monitor economic conditions and their impact and the trust level performance variables and update the ratings accordingly.

RATING SENSITIVITIES

Unanticipated increases in the frequency of defaults could produce default levels higher than the projected base case default proxy and impact available default coverage and multiples levels. Lower default coverage could impact ratings and Rating Outlooks, depending on the extent of the decline in coverage. In Fitch's initial review of the transaction, the notes were found to have limited sensitivity to changes in obligor credit profiles and recovery rates associated with the high concentration of truck collateral in the pool. A material deterioration in performance would have to occur within the asset pool to have potential negative impact on the outstanding ratings.

DUE DILIGENCE USAGE

No third party due diligence was provided or reviewed in relation to this rating action.