Amendment: Fitch Upgrades 3 & Affirms 8 Classes of 2 Hyundai Auto Receivables Trusts.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- (This is an amended version of a press release issued April 26, 2007. It contains updated information regarding the 2006-A class A-2 notes.) Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. has upgraded three and affirmed eight classes of two Hyundai Auto Receivables Trusts (HART) asset-backed transactions as follows: 2005-A --Class A-3 notes affirmed at 'AAA'; --Class A-4 notes affirmed at 'AAA'; --Class B notes upgraded to 'AA+' from 'AA'; --Class C notes upgraded to 'A+' from 'A'; --Class D notes upgraded to 'BBB+' from 'BBB'. 2006-A --Class A-2 notes affirmed at 'AAA'; --Class A-3 notes affirmed at 'AAA'; --Class A-4 notes affirmed at 'AAA'; --Class B notes affirmed at 'AA+'; --Class C notes affirmed at 'A'; --Class D notes affirmed at 'BBB'. The collateral continues to perform within Fitch's expectations, and under the credit enhancement Credit Enhancement A method whereby a company attempts to improve its debt or credit worthiness. Notes: Credit enhancements take many different forms. An example of a credit enhancement would be conversion rights added on to a debt instrument in order to lower the issuing structure, the securities can now withstand stress scenarios consistent with the upgraded ratings and still make full payments to investors in accordance with the terms of the documents. As before, the ratings reflect the quality of Hyundai Motor Finance Company retail auto loan originations The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , the sound financial and legal structure of the transaction, and the strength of servicing provided by Hyundai Motor Finance Company. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion