Printer Friendly
The Free Library
19,607,059 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

Correct: Fitch Conducts Annual Portfolio Review of US Dealer Floorplan ABS Transactions; Affs Rtgs.


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 a·mend  
v. a·mend·ed, a·mend·ing, a·mends

v.tr.
1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive.

2.
 version of a press release issued earlier today containing revised information on the ratings for GE Dealer Floorplan Master Note Trust Series 2004-2.)

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.
 affirms the following classes of dealer floorplan asset-backed securities Asset-backed security

A security that is collateralized by loans, leases, receivables, or installment contracts on personal property, not real estate.


asset-backed security

A debt security collateralized by specific assets.
 (ABS (Automatic Backup System) See backup program. ) programs following completion of an annual review of all outstanding dealer floorplan transactions rated by Fitch fitch: see polecat. :

CNH CNH Carteira Nacional de Habilitação
CNH Centro Nacional de Huracanes (Spanish)
CNH California Nevada Hawaii (a district of Kiwanis International)
CNH Club Náutico Hacoaj
 Wholesale Master Note Trust

Series 2005-1:

--Class A 'AAA';

--Class B 'A+'.

Series 2006-1:

--Class A 'AAA';

--Class B 'A'.

DaimlerChrysler Master Owner Trust

Series 2004-B:

--Class A 'AAA'.

Series 2005-A:

--Class A 'AAA'.

Series 2005-C:

--Class A 'AAA'.

Series 2006-A:

--Class A 'AAA'.

Ford Credit Floorplan Master Owner Trust A

Series 2004-1

--Class A 'AAA';

--Class B 'A'.

Series 2005-1

--Class A 'AAA';

--Class B 'A'.

Series 2006-3:

--Class A 'AAA';

--Class B 'A'.

Series 2006-4:

--Class A 'AAA';

--Class B 'A'.

GE Dealer Floorplan Master Note Trust

Series 2004-2:

--Class A 'AAA';

--Class B 'A';

--Class C 'BBB+'.

Series 2005-1:

--Class A 'AAA';

--Class B 'A';

--Class C 'BBB'.

Series 2005-2:

--Class A 'AAA';

--Class B 'A';

--Class C 'BBB'.

Series 2006-1:

--Class A 'AAA';

--Class B 'A';

--Class C 'BBB'.

Series 2006-2:

--Class A 'AAA';

--Class B 'A';

--Class C 'BBB'.

Series 2006-3:

--Class A 'AAA';

--Class B 'A';

--Class C 'BBB'.

Series 2006-4:

--Class A 'AAA';

--Class B 'A';

--Class C 'BBB'.

Superior Wholesale Inventory Financing Inventory financing

Used in the context of factoring and general finance to refer to loans to consumer product producers that use inventory as collateral. See also: Inventory loan.
 Trust VIII

Series 2003-A:

--Term Notes 'AAA';

--Certificates 'A+'.

Series 2004-A:

--Term Notes 'AAA'.

Superior Wholesale Inventory Financing Trust IX

Series 2004-A:

--Term Notes 'AAA';

--Certificates 'A+'.

Superior Wholesale Inventory Financing Trust X

Series 2004-A:

--Class A 'AAA';

--Class B 'A';

--Class C 'BBB'.

Superior Wholesale Inventory Financing Trust XI

Series 2005-A:

--Class A 'AAA';

--Class B 'A';

--Class C 'BBB+';

--Class D 'BB+'.

Superior Wholesale Inventory Financing Trust XII

Series 2005-A:

--Class A 'AAA';

--Class B 'A';

--Class C 'BBB+';

--Class D 'BB+'.

Series 2005-B

--Class A 'AAA'.

Fitch recently completed an annual portfolio review of the U.S. dealer floorplan ABS sector providing commentary on the lifetime performance of 25 transactions rated by Fitch. Each transaction is performing as originally expected resulting in no rating actions. Despite this, Fitch believes the highly competitive U.S. vehicle sales market and weaker corporate debt ratings of U.S. manufacturers will continue to lead to a challenging environment for the auto dealer floorplan sector.

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 criteria (krītēr´ē),
n.
 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.
COPYRIGHT 2007 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Jun 1, 2007
Words:454
Previous Article:Financing the Big Bill for the Big Day from Informa Research Services.
Next Article:Textron Financial and Arctic Cat Announce Dedicated Business Relationship.



Related Articles
Fitch Affirms GMAC Auto Loan, Lease & Dealer Floorplan Transactions.
Fitch: Stronger GMAC Could Affect U.S. Auto ABS, How Remains To Be Seen.
Fitch: Subprime, Consumer, Corporate Challenges Will Test U.S. Term ABS in 2006.
Fitch Reviews U.S. Dealer Floorplan ABS Portfolio and Launches Monthly Payment Rate Index.
Fitch Affirms U.S. Dealer Floorplan ABS Transactions & Issues Portfolio Review.
Fitch: Rising Loss Severity Driving Loss Levels in U.S. Auto ABS.
Fitch: Prime U.S. ABS Sectors to Remain Immune in 2007.
Fitch Offers Crash Test of Manufacturer Bankruptcy Effect on U.S. Auto ABS.
Fitch Provides 'Inventory Check' of U.S. Dealer Floorplan ABS.
Fitch Conducts Annual Portfolio Review of US Dealer Floorplan ABS Transactions; Affs Outstanding Rtg.

Terms of use | Copyright © 2012 Farlex, Inc. | Feedback | For webmasters | Submit articles