S&P Asgns DaimlerChrysler Auto Tr 2002-A Prelim Rtgs

    NEW YORK--Standard & Poor's--April 19, 2002--Standard & Poor's today assigned its preliminary ratings to DaimlerChrysler Auto Trust 2002-A's $2,383.4 million asset-backed notes and certificates (see list).
    The preliminary ratings are based on information as of April 19, 2002. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings.
    The preliminary ratings reflect credit enhancement in the form of 3.50% of initial overcollateralization, 3.25% subordinated asset-backed certificates, a 0.25% fully funded reserve account, and about 1.5%-2.0% in excess spread. The size of the yield supplement overcollateralization amount (YSOA) is $38.2 million. The YSOA is sized by discounting the collateral pool by 5.0% (DCAT 2001-D used a rate of 4.0% to size its YSOA). The discount rate is chosen to generate the necessary additional excess spread. Notwithstanding a slight deterioration in loss and delinquency measures, the ratings on the 2002-A securitization are also based on the extensive amount of data obtained from DaimlerChrysler Services North America LLC, the solid credit quality of the underlying pool of automobile loans, and a sound legal structure.
    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.

PRELIMINARY RATINGS ASSIGNED

DaimlerChrysler Auto Trust 2002-A
Class            Rating       Amount ($000s)
A-1              A-1+                506,000
A-2              AAA                 777,000
A-3              AAA                 599,000
A-4              AAA                 424,000
Certificates     N.R.                 77,400