S&P Raises Ratings on Ford Credit Auto Owner Trust 1999-B

    NEW YORK, Feb. 1 Standard & Poor's today raised its
ratings on Ford Credit Auto Owner Trust 1999-B's asset-backed subordinated
notes and certificates (see list).
    The raised ratings reflect increased loss protection percentages due to
the buildup of credit enhancement, and to the transaction's strong
performance.  After 20 months of performance, the pool factor is 40.44%, and
the collateral pool is displaying excellent performance trends, including a
cumulative net loss rate of 0.52% (of the original collateral pool balance).
Subordination levels have grown over the life of the transaction, with
subordination for the class B notes at 9.78% of the outstanding adjusted net
collateral pool balance, and subordination for the class C certificates at
4.89% of the outstanding adjusted net collateral pool balance.  Also, the
reserve account remains at its required level of 0.50% (of the original
collateral pool balance), and overcollateralization is at its target level.
    Standard & Poor's expects the remaining credit support will be sufficient
to support the notes and certificates at their new rating levels.
-- CreditWire

    OUTSTANDING RATINGS RAISED

    Ford Credit Auto Owner Trust 1999-B
    Asset-backed subordinated notes and certificates
    Class         Rating
                To      From
    B notes     AA+     A
    C certs     AA-     BBB
    D certs     BBB+    BB