Mon, Mar 24, 12:06 PM (34 days ago)
**Ford Credit Auto Lease Trust 2023-B (FCT23B)** **Financial Summary (Fiscal Year 2024):** Ford Credit Auto Lease Trust 2023-B, sponsored by Ford Motor Credit Company LLC (FMC), reported its financial performance for the fiscal year ended December 31, 2024. The trust focuses on auto lease financing and does not have voting or non-voting common equity outstanding held by non-affiliates. **Financial Performance:** - **Revenue & Net Income:** Specific revenue and net income figures are not provided in the summary, as the document primarily focuses on regulatory and structural details. - **Operating Expenses:** Not explicitly detailed in the provided summary. - **Earnings Per Share (EPS):** Not applicable due to the absence of common equity. **Strategic Overview & Future Outlook:** The trust's strategic focus is on managing auto lease assets efficiently. Ford Credit and U.S. Bank, the servicing participants, have provided reports on compliance with servicing criteria, indicating no material instances of noncompliance. This suggests a stable operational environment. **Risk Factors:** - **Market Position Changes:** The trust's market position is not explicitly detailed, but the compliance reports indicate a stable servicing environment. - **Financial Condition:** The trust's financial condition is supported by the compliance and attestation reports from servicing participants, suggesting a robust financial structure. **Key Documents:** - **Indenture Agreement:** Between the trust and U.S. Bank Trust Company, National Association. - **Servicing Agreements:** Various agreements detailing the servicing roles of Ford Credit and U.S. Bank. - **Compliance Reports:** Reports on assessment of compliance with servicing criteria for Ford Credit and U.S. Bank. **Conclusion:** Ford Credit Auto Lease Trust 2023-B demonstrates a strong focus on regulatory compliance and efficient asset management. The trust's financial condition is supported by thorough compliance and attestation reports, indicating a stable operational and financial environment. Portfolio managers and traders should note the trust's emphasis on regulatory adherence and efficient servicing, which are crucial for long-term stability and performance.