Hyundai Auto Lease Securitization Trust 2022-A — Moody’s assigns definitive ratings to Hyundai Auto Lease Securitization Trust 2022-A notes

Rating Action: Moody’s assigns definitive ratings to Hyundai Auto Lease Securitization Trust 2022-A notesGlobal Credit Research – 19 Jan 2022Approximately $1.28 billion of asset-backed securities ratedNew York, January 19, 2022 — Moody’s Investors Service (“Moody’s”) has assigned definitive ratings to the notes issued by Hyundai Auto Lease Securitization Trust 2022-A (HALST 2022-A). This is the first auto lease transaction of the year for Hyundai Capital America (HCA, Baa1 stable). The notes are backed by a pool of closed-end retail automobile lease originated by HCA, who is also the servicer and administrator for the transaction.Issuer: Hyundai Auto Lease Securitization Trust 2022-A$175,000,000, 0.25443%, Class A-1 Notes, Definitive Rating Assigned P-1 (sf)$469,000,000, 0.81%, Class A-2 Notes, Definitive Rating Assigned Aaa (sf)$469,000,000, 1.16%, Class A-3 Notes, Definitive Rating Assigned Aaa (sf)$82,600,000, 1.32%, Class A-4 Notes, Definitive Rating Assigned Aaa (sf)$81,680,000, 1.51%, Class B Notes, Definitive Rating Assigned Aa3 (sf)RATINGS RATIONALEThe ratings are based on the quality of the underlying collateral and its expected performance, the strength of the capital structure, and the experience and expertise of HCA as the servicer.Moody’s expected median cumulative net credit loss expectation for HALST 2022-A is 0.75% and the total loss at a Aaa stress is 26.00% (including 4.00% credit loss and 22.00% residual value loss at a Aaa stress). The net credit loss…