Fitch Affirms Three HSBC Automotive Trusts

NEW YORK--Fitch Ratings affirms four classes of asset-backed notes within three HSBC Automotive Trusts. The affirmations are a result of continued available credit enhancement in excess of stressed remaining losses. Current principal allocation and expected future cash flows are also contributing factors.

The collateral continues to perform within Fitch's base case expectations. Currently, under the credit enhancement structure, the securities can withstand stress scenarios consistent with the current rating categories and still make full payments of interest and principal in accordance with the terms of the documents.

The rating affirmations on the trusts are as follows:

HSBC Automotive Trust 2005-2

--Class A-4 notes at 'AAA'.

HSBC Automotive Trust 2005-3

--Class A-4 notes at 'AAA'.

HSBC Automotive Trust (USA) 2006-2

--Class A-3 notes at 'AAA';

--Class A-4 notes at 'AAA'.

Applicable Criteria is available on Fitch's web site at 'www.fitchratings.com': 'Rating U.S. Auto-Loan Backed Securitizations: A Tune-Up,' dated May 30, 2007, and 'Global Structured Finance Rating Criteria', dated Sept. 30, 2009.

Additional information is available at 'www.fitchratings.com'.

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