Ford Credit Auto Owner Trust 1999-C & 1999-D Upgr By Fitch.Business Editors NEW YORK--(BUSINESS WIRE)--June 7, 2001 Fitch fitch: see polecat. upgrades Ford Credit Auto (AUTOmatic) Refers to a wide variety of devices that perform unattended operations. Owner Trust 1999-C class B asset-backed notes to 'AA' from 'A', class C asset-backed certificates to 'A+' from 'BBB+' and class D asset-backed certificates to 'BBB+' from 'BB+'. Fitch also upgrades Ford Credit Auto Owner Trust 1999-D class B asset-backed notes to 'AA' from 'A', class C asset-backed certificates to 'A+' from 'BBB+' and class D asset-backed certificates to 'BBB+' from 'BB+'. The rating upgrades are a result of increased available 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 in excess of expected remaining losses. The collateral collateral (kəlăt`ərəl), something of value given or pledged as security for payment of a loan. Collateral consists usually of financial instruments, such as stocks, bonds, and negotiable paper, rather than physical goods, although of both trusts continues to perform within Fitch's base case expectations and, under the credit enhancement structure, the bonds can now withstand stress scenarios consistent with the upgraded ratings and still make full and timely payments of principal and interest. As before, the ratings reflect the quality of Ford Motor Credit Co.'s 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 transactions and servicing provided by Ford Motor Credit Co. |
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