Fitch to Rate CFAST 2008-B B Note Trust

June 10, 2010 By Leave a Comment

NEW YORK–(Business Wire)–
Fitch Ratings expects to rate CFAST 2008-B B Note Trust (2008-B BNT) as follows:

–$90,300,000 6.54% trust notes ‘BBB’; Outlook Stable.

The expected ratings are based on receipt and review of all applicable
transaction documents, including all legal opinions, by Fitch.

The trust notes are directly secured by the outstanding class B notes of
Chrysler Financial Auto Securitization Trust 2008-B (CFAST 2008-B), issued on
May 19, 2008. As such, the ratings of the trust notes issued by 2008-B BNT are
directly linked to those of the outstanding CFAST 2008-B class B notes.

The trust notes are being offered under Rule 144A under the Securities Act of
1933. The final scheduled maturity date of the trust notes is Nov. 10, 2014.

CFAST 2008-B had previously sold the class B notes in a private transaction in
2008. An affiliate of Chrysler Financial Services Americas LLC (CF), Chrysler CA
Lease Depositor LLC, purchased the CFAST 2008-B class B notes in another
transaction in Oct. 2009 and is currently selling them to the 2008-B BNT.

The trust notes issued by 2008-B BNT will be entitled to receive all cash flows
and payments made on the CFAST 2008-B class B notes. The holders of the trust
notes will receive payment distributions on the same day as the 2008-B BNT
trustee receives them, in this direct pass-through structure. The trust notes
are secured by payments made on the CFAST 2008-B class B notes, which are backed
by a pool of cars, sport utility vehicles and light-duty trucks originated by
CF.

CF is the administrator of 2008-B BNT. The indenture trustee of 2008-B BNT is
Citibank, N.A., and the owner trustee is BNY Mellon Trust of Delaware. CF is the
sponsor and servicer of CFAST 2008-B.

Since the ratings of the trust notes are directly linked to those of the
outstanding CFAST 2008-B class B notes, Fitch reviewed the performance of CFAST
2008-B on May 17, 2010. As such, Fitch affirmed the outstanding class B notes at
‘BBB’ and revised the Rating Outlook to Stable from Negative. For more
information on these rating actions, please refer to the press release titled
‘Fitch Affirms 3 CFAST Transactions; Revises Outlooks to Stable’ dated May 18,
2010, available on Fitch’s web site at ‘www.fitchratings.com’.

The expected ratings reflect the application of Fitch’s criteria: ‘U.S. Auto
Loan ABS Rating Criteria’ dated March 18, 2010; and ‘Global Structured Finance
Rating Criteria’ dated Sept. 30, 2009.

For more information about Fitch’s comprehensive subscription service
FitchResearch, which includes all presale reports, surveillance, and credit
reports on more than 20 asset classes, contact product sales at +1-212-908-0800
or at ‘webmaster@fitchratings.com’.

Additional information is available at ‘www.fitchratings.com’.

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS.
PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK:
HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING
DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY’S
PUBLIC WEBSITE ‘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 ARE ALSO AVAILABLE FROM THE ‘CODE OF
CONDUCT’ SECTION OF THIS SITE.

Fitch Ratings
David Petu, CFA +1-212-908-0280
Hylton Heard, +1-212-908-0214 (New York)
Media Relations:
Sandro Scenga, +1-212-908-0278 (New York)
sandro.scenga@fitchratings.com

Copyright Business Wire 2010

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Obama releases CIA interrogation memos, rules out prosecution

April 19, 2009 By Leave a Comment

Washington – President Barack Obama on Thursday released four internal legal opinions that were used by former president George W Bush’s administration as justification for harsh CIA interrogations, but ruled out prosecuting anyone involved in such practices.

The memorandums released by the Justice Department offered legal justification for a series of harsh interrogation tactics against suspects held in CIA prisons, including sleep deprivation and a drowning-simulation technique known as waterboarding, which some human rights groups have said amounted to torture.

But Obama said he had no intention to prosecute any CIA officials involved in the interrogations.

“In one of my very first acts as president, I prohibited the use of these interrogation techniques because they undermine our moral authority and do not make us safer,” Obama said in a statement.

“In releasing these memos, it is our intention to assure those who carried out their duties relying in good faith upon legal advice from the Department of Justice that they will not be subject to prosecution,” Obama said.

Civil rights group ACLU welcomed the release but said it was still pushing for an independent prosecutor to investigate allegations of torture under the Bush administration.

“We have to look back before we can more forward as a nation,” said Anthony Romero, executive director of the ACLU. “When crimes have been committed, the American legal system demands accountability.” (dpa)

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Bush administration cleared CIA use of insects to torture GITMO detainees

April 17, 2009 By Leave a Comment

Washington, Apr.17 (ANI): The Bush administration is reported to have given its approval to the Central Intelligence Agency to use insects as a method of torture against Guantanamo Bay detainees.

The New York Times quotes the Justice Department as saying in a report the methods approved by the Bush administration for extracting information from senior operatives of Al Qaeda in careful detail – like keeping detainees awake for up to 11 straight days, placing them in a dark, cramped box or putting insects into the box to exploit their fears.

The interrogation methods were authorized beginning in 2002, and some were used as late as 2005 in the C.I.A.’s secret overseas prisons.

The techniques were among the Bush administration’s most closely guarded secrets, and the documents released Thursday afternoon were the most comprehensive public accounting to date of the program.

The release of the documents came after a bitter debate that divided the Obama administration, with the C.I.A. opposing the Justice Department’s proposal to air the details of the agency’s long-secret program.

Together, the four memos give an extraordinarily detailed account of the C.I.A.’s methods and the Justice Department’s long struggle, in the face of graphic descriptions of brutal tactics, to square them with international and domestic law.

Passages describing forced nudity, the slamming of detainees into walls, prolonged sleep deprivation and the dousing of detainees with water as cold as 41 degrees alternate with elaborate legal arguments concerning the international Convention Against Torture.

The Justice Department’s Office of Legal Counsel, the highest authority in interpreting the law in the executive branch, wrote the four legal opinions, released in a Freedom of Information Act lawsuit filed by the A.C.L.U., in 2002 and 2005. (ANI)

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