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Fitch Upgrades 7 & Affirms 8 Classes of 3 Ford Credit Auto Owner Trusts

NEW YORK - (BUSINESS WIRE) - Fitch Ratings affirms eight and upgrades seven classes of three Ford Credit Auto Owner Trust transactions as part of its on going surveillance process.

The affirmations and upgrades are a result of continued available credit enhancement in excess of stressed remaining losses. The collateral continues to perform within Fitch's base case expectations. Currently, the securities can withstand stress scenarios consistent with the current rating categories and still make full payments of interest and principal in accordance with the terms of the documents.

As before, the ratings reflect the quality of Ford Motor Credit Co.'s retail auto loan originations, the sound financial and legal structure of the transactions, and servicing provided by Ford Motor Credit Co.

Fitch takes various actions on the following classes of Ford Credit Auto Owner Trust:

2006-B

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

-- Class B notes upgraded to 'AAA' from 'AA'; Outlook Stable;

-- Class C notes upgraded to 'AA' from 'A'; Outlook Positive;

-- Class D notes affirmed at 'BBB'; Outlook Positive.

2006-C

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

-- Class A-4a notes affirmed at 'AAA'; Outlook Stable;

-- Class A-4b notes affirmed at 'AAA'; Outlook Stable;

-- Class B notes upgraded to 'AAA' from 'AA'; Outlook Stable;

-- Class C notes upgraded to 'AA' from 'A'; Outlook Positive;

-- Class D notes affirmed at 'BBB'; Outlook Positive.

2007-B

-- Class A-3a notes affirmed at 'AAA'; Outlook Stable;

-- Class A-3b notes affirmed at 'AAA'; Outlook Stable;

-- Class A-4a notes affirmed at 'AAA'; Outlook Stable;

-- Class A-4b notes affirmed at 'AAA'; Outlook Stable;

-- Class B notes upgraded to 'AA' from 'A'; Outlook Positive;

-- Class C notes upgraded to 'A' from 'BBB'; Outlook Positive;

-- Class D notes upgraded to 'BBB' from 'BB'; Outlook Positive.

The following applicable Criteria Reports are available on Fitch's web site at 'www.fitchratings.com': 'Rating U.S. Auto-Loan Backed Securitizations: A Tune-Up,' dated May 30, 2007, and 'Global Structured Finance Rating Criteria', dated Sept. 30, 2009.

Additional information is available at 'www.fitchratings.com'.

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA 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 ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.

Fitch Ratings, New York
Hylton Heard, +1-212-908-0214
Joachim Over, +1-212-908-0830
Taka Ushiroda, +1-212-908-0881
Sandro Scenga, +1-212-908-0278 (Media Relations)
sandro.scenga@fitchratings.com