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Fitch Takes Rating Actions on 38 Equipment Leasing ABS Transactions.


CHICAGO Chicago, city, United States
Chicago (shĭkä`gō, shĭkô`gō), city (1990 pop. 2,783,726), seat of Cook co., NE Ill., on Lake Michigan; inc. 1837.
 -- Following a portfolio review of 38 transactions in its equipment leasing/loans portfolio, Fitch fitch: see polecat.  has taken various rating actions on the following transactions:

--CNH Equipment Trust 2004-VA;

--CNH Equipment Trust 2005-A;

--DVI Medical Equipment Securitizations;

--GE Commercial Equipment Financing L.L.C., series 2004-A.

More detailed information on these specific actions is available in separate press releases issued earlier, all of which are available on the Fitch Ratings Fitch Ratings

An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris.
 web site at www.fitchratings.com.

Fitch has also affirmed af·firm  
v. af·firmed, af·firm·ing, af·firms

v.tr.
1. To declare positively or firmly; maintain to be true.

2. To support or uphold the validity of; confirm.

v.intr.
 the following transactions:

Bank of America
See also:  and


Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world.
 Lease Equipment Trust 2002-A

--Class A-4 'AAA';

--Class B 'AAA';

--Class C 'AA'.

CIT n. 1. A citizen; an inhabitant of a city; a pert townsman; - used contemptuously.
Which past endurance sting the tender cit.
- Emerson.
 Equipment Collateral collateral (kəlăt`ərəl), something of value given or pledged as security for payment of a loan. Collateral consists usually of financial instruments, such as stocks, bonds, and negotiable paper, rather than physical goods, although  2004-DFS

--Class A-3 'AAA';

--Class B 'AA';

--Class C 'A';

--Class D 'BBB'.

CIT Equipment Collateral 2004-EF1

--Class A-3 'AAA';

--Class B 'AAA';

--Class C 'AA';

--Class D 'BBB'.

CIT Equipment Collateral 2005-EF1

--Class A-2 'AAA';

--Class A-3 'AAA';

--Class A-4 'AAA';

--Class B 'AA';

--Class C 'A';

--Class D 'BBB'.

CIT Equipment Collateral 2004-VT1

--Class A-3 'AAA';

--Class A-4 'AAA';

--Class B 'AAA';

--Class C 'AAA';

--Class D 'AA'.

CIT Equipment Collateral 2005-VT1

--Class A-3 'AAA';

--Class A-4 'AAA';

--Class B 'AA';

--Class C 'A';

--Class D 'BBB'.

CIT Equipment Collateral 2006-VT1

--Class A-1 'F1+'

--Class A-2 'AAA';

--Class A-3 'AAA';

--Class A-4 'AAA';

--Class B 'AA';

--Class C 'A';

--Class D 'BBB'.

CIT Equipment Collateral 2006-VT2

--Class A-1 'F1+'

--Class A-2 'AAA';

--Class A-3 'AAA';

--Class A-4 'AAA';

--Class B 'AA';

--Class C 'A';

--Class D 'BBB'.

GE Commercial Equipment Financing L.L.C., series 2003-1

--Class A-4 affirmed at 'AAA';

--Class B 'AAA'.

GE Commercial Equipment Financing L.L.C., series 2004-1

--Class A-3 'AAA';

--Class A-4 'AAA';

--Class B 'AA';

--Class C 'A'.

GE Commercial Equipment Financing L.L.C., series 2005-1

--Class A-3a 'AAA';

--Class A-3b 'AAA';

--Class A-4 'AAA';

--Class B 'A';

--Class C 'BBB'.

GE Equipment Small Ticket L.L.C., series 2005-1

--Class A-2 'AAA';

--Class A-3 'AAA';

--Class A-4 'AAA';

--Class B 'A'.

GE Equipment Small Ticket L.L.C., series 2005-2

--Class A-2 'AAA';

--Class A-3 'AAA';

--Class A-4 'AAA';

--Class B 'A'.

GMAC-CM Funding L.L.C. series 2003-A

--Class A 'AA';

--Class B 'BBB';

--Class C 'BB'.

GreatAmerica Leasing Receivables Receivables

An asset designation applicable to all debts, unsettled transactions or other monetary obligations owed to a company by its debtors or customers. Receivables are recorded by a company's accountants and reported on the balance sheet, and they and include all debts owed
 2004-1, L.L.C.

--Class A-3 'AAA';

--Class A-4 'AAA';

--Class B 'AA';

--Class C 'A'.

GreatAmerica Leasing Receivables 2005-1, L.L.C.

--Class A-2 'AAA';

--Class A-3 'AAA';

--Class A-4 'AAA';

--Class B 'AA';

--Class C 'A'.

GreatAmerica Leasing Receivables 2006-1, L.L.C.

--Class A-1 'F1+';

--Class A-2 'AAA';

--Class A-3 'AAA';

--Class A-4 'AAA';

--Class B 'AA';

--Class C 'A'.

PBG PBG
abbr.
porphobilinogen
 Equipment Trust 1998-1

--Class A 'AA+';

--Class B 'A'.

Unicapital UCP (Universal Communication Platform AG, Lugano, Switzerland) A software company that specialized in mobile phone services, founded in 1999 by Christian Lutz and Marwan Saba. Its offerings included SMS voting and mobile marketing tools, photo messaging platforms and custom applications for  1999-1, L.L.C.

--Class A-4 'AAA';

--Class B 'C/DR6';

--Class C 'C/DR6'.

Unicapital UCP 2000-1, L.L.C.

--Class B 'C/DR6';

--Class C 'C DR6'.

Fitch's Distressed Recovery (DR) ratings, introduced in April 2006 across all sectors of structured finance, are designed to estimate recoveries on a forward-looking for·ward-look·ing
adj.
Concerned with or making provision for the future: forward-looking educators; a forward-looking corporate plan.

Adj. 1.
 basis while taking into account the time vale of money. For more information on Distressed Recovery ratings, see the full report ('Structured Finance Distressed Recovery Ratings'), which is available on the Fitch Ratings web site at www.fitchratings.com.

Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used.

In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide.
 of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental  are also available from the 'Code of Conduct' section of this site.
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Publication:Business Wire
Date:Jan 16, 2007
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