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JOHN DEERE OWNER TRUST 1992-A CLASS A NOTES RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 JOHN DEERE OWNER TRUST 1992-A CLASS A NOTES RATED 'AAA' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Oct. 8 /PRNewswire/ -- John Deere Owner Trust 1992-A $163 million Class A-1 floating rate asset backed notes are rated 'F-1+/AAA' by Fitch. The $318 million Class A-2 floating rate asset backed notes are rated 'AAA' and the $20 million asset backed certificates are rated 'A.' This is the first public deal securitized by agricultural and industrial equipment loans issued by John Deere.
 The ratings reflect Fitch's assessment of the quality of the retail installment contracts, the levels of credit enhancement, and the distinctive servicing capabilities of Deere Credit Services, Inc., located in Des Moines, Iowa. Fitch also focused on the receivables' cash flows and believes that the unusual nature of the repayment terms will not interfere with the debt service requirements on both the notes and certificates. In addition, the legal structure is consistent with the ratings because it appropriately separates any bankruptcy risks of John Deere Capital Corp (JDCC) from the issuer, John Deere Receivables, Inc., and the trust.
 The pool consists of retail loan contracts secured by agricultural and industrial equipment totaling $500,136,353. Of the total pool, agricultural equipment accounts for approximately 88 percent and the remaining 12 percent secured by industrial equipment. Since the customer base for agricultural loans consists primarily of commercial farmers, who tend to have a conservative view towards borrowing and exhibit a relatively low level of delinquencies, these loans reflect a high quality asset. Industrial equipment is slightly more risky because this type of equipment is used primarily in the construction industry. Because of the stronger demands on the equipment, the useful life is shorter and the value is not maintained over a long period of time. Furthermore, these borrowers do not have the same conservative views towards borrowing as do farmers. However, the levels of credit enhancement offset the additional risk represented by the industrial loans, as well as JDCC's prudent underwriting policies. The geographic concentration is diverse with the largest percentage of the pool, 8.2 percent, in Texas. Other states include Kansas, Minnesota, Mississippi and Arkansas.
 Credit enhancement for the notes, totalling 15 percent of the receivable balance, will be provided by the 4 percent subordination of the certificates and an 11 percent reserve account. Credit enhancement for the certificates will be provided by the 11 percent reserve fund. The reserve account will have an up-front deposit equal to 9 percent of the pool balance and the remaining 2 percent will be funded with excess cash. Because delinquent payments of interest will not be advanced by the servicer, the reserve fund was also sized for liquidity and for possible interest shortfalls resulting from prepayments.
 John Deere Receivables Inc. (JDRI), a wholly owned, special purpose, subsidiary of JDCC, purchased the loans from JDCC, and sold the receivables to the issuer, John Deere Owner Trust 1992-A (the trust). JDRI will be retaining a small portion of the certificates, while the remaining balance will be sold to third-party investors. Because JDRI is retaining a small percentage interest in the certificates and there is a limited relationship between JDCC and JDRI subsequent to the offering Fitch believes that the "true sale" concerns will not be raised in the event of a bankruptcy of JDCC or any other Deere companies.
 Deere Credit Services, Inc. (Deere Credit) will act as servicer for the transaction. With over 100 years in the farm equipment business, Deere Credit's experienced management is exceptionally knowledgeable about their customer base. Fitch is confident that the servicing quality will remain intact throughout the life of the transaction.
 -0- 10/8/92
 /CONTACT: Suzanne Mistretta, 212-908-0637, or Mary Griffin, 212-908-0537, both of Fitch/
 (DE) CO: John Deere Owner Trust; Deere Credit Services, Inc. ST: Illinois, Iowa IN: MAC SU: RTG


CK -- NY064 -- 7877 10/08/92 12:55 EDT
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Date:Oct 8, 1992
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