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S&P Assigns Ratings to DaimlerChrysler Auto Trust 2000-C

14 September 2000

S&P Assigns Ratings to DaimlerChrysler Auto Trust 2000-C

    NEW YORK, Sept. 13 Standard & Poor's today assigned its
ratings to DaimlerChrysler Auto Trust 2000-C's $1.5 billion asset-backed notes
(see list).
    The ratings reflect credit enhancement in the form of 4.75% of initial
overcollateralization, 3.50% subordinated asset-backed certificates, a 0.25%
fully funded reserve account, and approximately 2.0% in excess spread. The
size of the subordinated asset-backed certificates has been reduced from 3.75%
on the last transaction due to improvements in portfolio performance and
improved characteristics of the securitized pool. The ratings are also based
on the extensive amount of data obtained from Chrysler Financial Co. L.L.C.,
the solid credit quality of the underlying pool of automobile loans, a sound
legal structure, and approximately 10% in credit enhancement.
    This is Chrysler Financial's third term securitization of the year which
consists of $1.5 billion in triple-'A' rated securities and almost
$600 million of retained notes, certificates, and overcollateralization,
backed by just over $2.0 billion in auto loan receivables. All credit
enhancement is measured as a percent of initial securities, which is defined
as the initial balance of the class A-1 through class A-4 notes plus the
$69,398,000 initial principal balance of subordinated asset-backed
certificates.
    On each payment date, all collected funds will be used to pay the
servicing fee, monthly interest, replenish the reserve account, and pay
principal on securities until the securities outstanding balance is equal to
94.75% of the remaining pool balance with the remainder being released to
DaimlerChrysler Retail Receivables LLC. The securities will be paid
sequentially with no payments being made to the subordinated asset-backed
certificates until all notes have been paid in full.
    The reserve account will be fully funded at 0.25% at closing and the
specified reserve account balance will remain at this level as long as the
securities remain outstanding. Thus, as the receivables amortize, the reserve
account will grow as a percent of assets outstanding. The reserve account will
be used to pay shortfalls in interest, pay principal on the notes if a class
is not paid in full on its legal final payment date, and to pay down notes if
overcollateralization is depleted.
    

    RATINGS ASSIGNED

    DaimlerChrysler Auto Trust 2000-C
    Issue                                             Rating
    Class A-2 $625 mil 6.81% asset-backed notes       AAA
    Class A-3 $475 mil 6.82% asset-backed notes       AAA
    Class A-4 $400 mil 6.85% asset-backed notes       AAA