S&P Global Ratings has assigned its 'AAA (sf)' credit rating to Auto ABS French Leases 2025's class A floating-rate notes. At closing, the issuer also issued unrated asset-backed fixed-rate class B notes. CREDIPAR, which is fully owned by Banque Stellantis France (BBB+/Stable/A-2), provides financing solutions through loans or leases (excluding operational leases to professionals) to Stellantis dealers' French end customers. It also funds stocks of dealers that are not owned by Stellantis. The transaction securitizes lease receivables arising from the sale of new cars manufactured by Stellantis and any brands for used cars and their residual values. While new cars are granted to both individual and commercial French lessees, used vehicles in this transaction are only granted to individual lessees.