S&P Dwngrds ACE Funding Ser 2001-1 After Ford Motor C

    MELBOURNE--Oct. 25, 2001--Standard & Poor's--Standard & Poor's today downgraded the rating on the A$100 million asset-backed notes issued by ACE Funding Ltd. - Series 2001-1 to triple-'B'-plus from single-'A'.
    This downgrade reflects the rating dependency of the notes on Ford Motor Credit Co. (triple-'B'-plus/Stable/A-2).