Fitch Affirms Volkswagen Auto Loan Enhanced Trust 2011-1

NEW YORK--(BUSINESS WIRE)--Fitch Ratings affirms two classes of the Volkswagen Auto Loan Enhanced Trust 2011-1 transaction as part of its ongoing surveillance, as listed below:

Volkswagen Auto Loan Enhanced Trust 2011-1:

--Class A-3 at 'AAAsf'; Outlook Stable;

--Class A-4 at 'AAAsf'; Outlook Stable.

The rating affirmations are based on available credit enhancement and loss performance to date. The collateral pool continues to perform within Fitch's expectations. In addition, under the credit enhancement structure, the securities are able to withstand stress scenarios consistent with the original ratings and make full payments to investors in accordance with the terms of the documents.

The ratings reflect the quality of Volkswagen Credit, Inc. retail auto loan originations, the strength of its servicing capabilities, and the sound financial and legal structure of the transaction.

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:

--'U.S. Auto Loan ABS Rating Criteria' (April 16, 2012);

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

Applicable Criteria and Related Research:

Rating Criteria for U.S. Auto Loan ABS

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=674859

Global Structured Finance Rating Criteria

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

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