Fitch Assigns 'F1+/AAA/A' to DaimlerChrysler Auto Trust 2004-B A-B Notes.

NEW YORK -- Fitch Ratings assigns the following ratings to DaimlerChrysler Auto Trust (DCAT) 2004-B Asset Backed Notes as follows:

-- $380,000,000 1.72% class A-1 asset-backed notes 'F1+';

-- $375,000,000 2.48% class A-2 asset-backed notes 'AAA';

-- $480,000,000 3.18% class A-3 asset-backed notes 'AAA';

-- $220,000,000 3.71% class A-4 asset-backed notes 'AA';

-- $45,000,000 3.89% class B asset-backed notes 'A'.

The ratings on the class A notes are based on the high quality of the receivables originated and serviced by DaimlerChrysler Services North America LLC (DCS), the transaction's sound legal and cash flow structures, the 0.25% non-declining reserve account, the 3.0% subordination of the class B notes, initial overcollateralization amount (OC) of 1.75%, the yield supplement overcollateralization amount (YSOA), and the availability of excess spread to increase OC to its target level of 5.0% of the current adjusted collateral balance. Fitch's ratings address the likelihood of noteholders receiving payments of interest and principal according to the terms of the underlying legal documents.

Initial credit enhancement for the class A notes equals to 5.0% (3.0% subordination of the class B notes, 1.75% OC, and 0.25% non-declining reserve account). The initial OC is expected to increase to 5.0% of the current adjusted pool balance (current pool balance minus YSOA) through the use of excess spread, building total enhancement to its target of 8.25%.

Interest on the notes is distributed monthly, commencing on August 9, 2004. Principal on the classes A-1 to A-4 is paid sequentially, with no principal distributed to the class B notes until all the class A notes have been paid in full.

The receivables backing DCAT 2004-B consist of new (93.07%) and used (6.93%) automobile and light-duty truck installment sale contracts. Credit quality is one of the highest relative to previous DCAT transactions. The weighted average APR is 6.12% and is boosted to approximately 8.32% with the utilization of the YSOA, which compensates for receivables in the pool with APRs below 3.25%.

On June 24, 2004, Fitch changed Daimler Chrysler AG's (DCS's parent company) Rating Outlook to Positive, from Stable. The short-term rating was affirmed at 'F2'. The rating reflects Fitch's view that the progress made so far in the restructuring on Chrysler Group, in particular, and the commercial vehicle division has materially lowered the downside risk provided by these entities on the overall credit profile.