Fitch Upgrades Two & Affirms Eight Classes of Two Ford Credit Auto Owner Trusts

NEW YORK--()--Fitch Ratings affirms eight and upgrades two classes from Ford Credit Auto Owner Trust (FCAOT) 2010-A and 2010-B transactions, as part of its ongoing surveillance process.

The rating affirmations and upgrades are a result of strong loss coverage due to increasing credit enhancement available to the notes. The collateral pools continue to perform within Fitch's expectations, with 2010-A and 2010-B experiencing 62 and 64 basis points of losses to date, respectively. In addition, both transactions are able to withstand stress scenarios consistent with the updated ratings and make full payments to investors in accordance with the terms of the documents.

The ratings reflect the quality of Ford Motor Credit Company's retail auto loan originations, the strength of its servicing capabilities, and the sound financial and legal structure of the transaction.

The ratings are as follows:

2010-A

--Class A-3 notes affirmed at 'AAAsf'; Outlook Stable;

--Class A-4 notes affirmed at 'AAAsf'; Outlook Stable;

--Class B notes affirmed at 'AAAsf'; Outlook Stable;

--Class C notes affirmed at 'AAAsf'; Outlook Stable;

--Class D notes upgraded to 'AAAsf' from 'AAsf'; Outlook Stable.

2010-B

--Class A-3 notes affirmed at 'AAAsf'; Outlook Stable;

--Class A-4 notes affirmed at 'AAAsf'; Outlook Stable;

--Class B notes affirmed at 'AAAsf'; Outlook Stable;

--Class C notes affirmed at 'AAAsf'; Outlook Stable;

--Class D notes upgraded to 'AAAsf' from 'AAsf'; Outlook Stable.

Additional information is available at 'www.fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.

Applicable Criteria and Related research:

--'U.S. Auto Loan ABS Rating Criteria' (April 16, 2012);

--'Global Structured Finance Rating Criteria' (June 6, 2012).

Applicable Criteria and Related Research:

Rating Criteria for U.S. Auto Loan ABS

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=674859

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679923

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