S&P Asgns CarMax Auto Ownr Tr 2002-1 Nts and Cert Rtg

    NEW YORK--Standard & Poor's--June 26, 2002-- Standard & Poor's assigned its ratings to CarMax Auto Owner Trust 2002-1's $512,613,000 auto receivable-backed notes and certificates series 2002-1 (see list).
    The rating on the class A-1 notes is based on sufficient credit enhancement and a conservative prepayment and liquidity stress consistent with the 'A-1'-plus rating. The ratings on the class A-2, A-3, and A-4 notes and certificates 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 and the certificates.
    MBIA is insuring all class A notes and the certificates. The underlying transaction risk assumed by MBIA has been determined to be consistent with an investment-grade rating based on a sound legal structure and internal credit support. Credit enhancement consists of a reserve account and the bond insurance policy.


           RATINGS ASSIGNED
           CarMax Auto Owner Trust 2002-1

           Class           Rating     Amount (mil. $)
           A-1             A-1+               110.000
           A-2             AAA                126.000
           A-3             AAA                159.000
           A-4             AAA                107.361
           Certificates    AAA                 10.252