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S&P Raises Ford Credit Auto Owner Trust Cert Rtgs

8 September 1999

S&P Raises Ford Credit Auto Owner Trust Cert Rtgs

    NEW YORK, Sept. 7 -- Standard & Poor's today raised its
ratings on Ford Credit Auto Owner Trust 1997-B and 1998-A's subordinated notes
and certificates (see list).
    The ratings reflect the increased percentages of loss protection due to
the build-up of credit enhancement and strong performance on the transactions.
Standard & Poor's anticipates that the remaining credit support will be
sufficient to support the notes and the certificates at their new rating
levels. -- CreditWire

    OUTSTANDING RATINGS RAISED
                                             Rating
                                          To        From
    Ford Credit Auto Owner Trust 1997-B
      Class B notes                       AA        A
      Certificates                        AA-       BBB

    Ford Credit Auto Owner Trust 1998-A
      Class B notes                       AA        A
      Class C certificates                A         BBB
      Class D certificates                BBB       BB