S&P Asgns Prlm Rtgs to Ford Cred Auto Owner Tr 2001-B

    NEW YORK--Standard & Poor's--March 21, 2001-- Standard & Poor's today assigned its preliminary ratings to Ford Credit Auto Owner Trust 2001-B's $3,986,661,000 asset-backed notes and certificates (see list).
    The preliminary ratings are based on information as of March 21, 2001. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings.
    The preliminary ratings reflect subordination of 7.5% for class A, 4% for class B and 2% for class C; a nonamortizing, fully funded reserve account equal to 0.5% of initial receivables; a turbo allocation feature whereby excess spread will be used to pay the securities and create overcollateralization to a certain specified amount; and favorable performance trends in Ford Motor Credit Co.'s recent portfolio and securitization data.
    A copy of Standard & Poor's complete presale report for this transaction is available on RatingsDirect, Standard & Poor's Web-based credit analysis system, at www.ratingsdirect.com. The report is also available on Standard & Poor's Ratings Services Web site at www.standardandpoors.com/ratings. Under Presale Reports, select Structured Finance, then Asset-Backed Securities, Standard & Poor's said.---CreditWire

PRELIMINARY RATINGS ASSIGNED
Ford Credit Auto Owner Trust 2001-B
Class            Rating                Amount ($)
A-1              A-1+                 279,000,000
A-2              A-1+                 459,000,000
A-3              AAA                1,400,000,000
A-4              AAA                1,100,000,000
A-5              AAA                  455,561,000
B                A                    136,810,000
C                BBB                   78,145,000
D                BB                    78,145,000