S&P Asgns Rtgs to Cap One Auto Finance Tr 2001-A Nts

NEW YORK--Standard & Poor's--July 30, 2001--Standard & Poor's assigned its ratings to Capital One Auto Finance Trust 2001-A's $850 million automobile receivable-backed notes (see list).
The rating on the class A-1 notes is based on sufficient credit enhancement, a conservative prepayment assumption and liquidity stress consistent with an 'A-1'-plus rating. The ratings on classes A-2, A-3, and A-4 are based on an irrevocable and unconditional bond insurance policy provided by MBIA Insurance Corp. (MBIA; triple-'A' insurer financial strength rating) that guarantees timely payment of interest and ultimate payment of principal at the respective final maturity dates for each class of notes. MBIA is insuring all class A notes. The underlying transaction risk assumed by MBIA has been determined to be consistent with an investment-grade rating based on sound legal structure and internal credit support. Credit enhancement consists of subordination, overcollateralization, a reserve account and excess spread, Standard & Poor's said. --CreditWire



PRELIMINARY RATINGS ASSIGNED
Capital One Auto Finance Trust 2001-A
Class             Rating        Amount ($000s)
A-1               A-1+                 126,500
A-2               AAA                  234,500
A-3               AAA                  241,500
A-4               AAA                  247,500