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S&P Raises Ford Credit Auto Owner Trust Cert &Nt Rtgs

8 September 1999

S&P Raises Ford Credit Auto Owner Trust Cert &Nt Rtgs

    NEW YORK--Standard & Poor's--Sept. 7, 1999-- 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 buildup 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