S&P Asgns Prlm Rtgs to Ford Cred Auto Onr Trt 2000-F
25 October 2000
S&P Asgns Prlm Rtgs to Ford Cred Auto Onr Trt 2000-F
NEW YORK--Standard & Poor's--Oct. 25, 2000-- Standard & Poor's today assigned its preliminary ratings to Ford Credit Auto Owner Trust 2000-F's $2,838,431,000 notes and certificates.The preliminary ratings are based on information as of Oct. 25, 2000. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings.
The ratings reflect subordination of 7.5% for class A (and the variable pay term notes that may be subsequently issued to pay the outstanding class A notes on or after their target maturity dates), 4% for class B, and 2% for class C; a nonamortizing, fully funded reserve account equal to 0.5% of initial receivables; a turbo allocation feature whereby excess spread will be used to pay the securities and create overcollateralization to a certain specified amount; and favorable performance trends in Ford Motor Credit Co.'s recent portfolio and securitization data.
A copy of Standard & Poor's complete presale report for this transaction is available on RatingsDirect, Standard & Poor's Web-based credit analysis system, at www.ratingsdirect.com. The report is also available on Standard & Poor's Ratings Services Web site at www.standardandpoors.com/ratings. Under Presale Reports, select Structured Finance, then Asset-Backed Securities, Standard & Poor's said. -- CreditWire
PRELIMINARY RATINGS ASSIGNED Class Amount ($000s) Rating Ford Credit Auto Owner Trust 2000-F A-1 906,000,000 AAA A-2 701,000,000 AAA A-3 520,000,000 AAA A-4 343,000,000 AAA A-5 159,722,000 AAA B 97,397,000 A C 55,565,000 BBB D 55,565,000 BB