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Premier Auto Trust 1997-2 $1.2B ABS To Be Rated By Fitch - Fitch Financial Wire -

14 August 1997

Premier Auto Trust 1997-2 $1.2B ABS To Be Rated By Fitch - Fitch Financial Wire -

    NEW YORK, Aug. 14 -- Premier Auto Trust 1997-2's asset backed
notes, $250 million 6.01% class A-2, $235 million 6.13% class A-3, $200
million 6.25% class A-4 and $190 million 6.32% class A-5, are expected to be
rated 'AAA' by Fitch.  The class A-1 notes will not be offered publicly and
will be retained by Chrysler Financial Corp. (CFC).  The $45 million 6.53%
subordinated class B notes are expected to be rated 'A+'.  The expected
ratings on the class A notes are based upon funds in the reserve account, the
subordination of the class B notes and the availability of excess spread to
create overcollateralization.  The expected rating on the class B notes
is based upon the reserve account and the initial overcollateralization amount
(IOA). Both ratings reflect the high quality of the retail auto receivables
originated by CFC and the sound legal structure.  The transaction will be
fully funded at closing.
    Credit enhancement for Premier 1997-2 is substantially similar to the
Premier 1997-1 transaction. Credit enhancement for the class A notes,
initially 9.25%, will grow through overcollateralization created by the
application of excess spread.  The Initial Overcollateralization Amount (IOA),
4.5%, will increase to a target of 7.75% of the Initial Note Principal Balance
(INPB), whereupon the reserve account (1.0%) will decrease to 0.75% of the
INPB, and the overcollateralization amount will revert back to 5.50%.  Excess
spread will be released to the seller, CFC, provided the overcollateralization
amount is at least 5.50% of the INPB and the reserve account is funded to its
required amount.  Money will also only be released to the seller on a
cumulative basis up to the IOA.  Credit enhancement for the class B notes,
initially 5.5% of the INPB, will increase with respect to the above mentioned
structure.
    Premier 1997-2 will utilize a full turbo structure feature to increase
overcollateralization.  Since all excess spread will be distributed as
principal to the class A notes, overcollateralization increases over time,
providing substantial loss protection for each class of noteholders. In
addition, the reserve account is based on the INP, a feature which also
increases credit enhancement as the pool amortizes.
    Principal and interest on the class A and B notes will be distributed
monthly.  Classes A-1 through A-5 are sequential pay note classes.  No
principal will be distributed to the class B noteholders until all the class A
notes have been paid in full.

SOURCE  Fitch Investors Service