Fitch Affirms Two and Upgrades Two Classes of Ford Credit Auto Owner Trust 2011-A

  Fitch Affirms Two and Upgrades Two Classes of Ford Credit Auto Owner Trust
  2011-A

Business Wire

NEW YORK -- January 3, 2013

As part of its ongoing surveillance, Fitch Ratings affirms two and upgrades
two classes of the Ford Credit Auto Owner Trust 2011-A transaction as follows:

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

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

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

--Class C upgraded to 'AAAsf' from 'AAsf'; Outlook Stable;

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

The ratings are based on growing credit enhancement and low loss performance
to date. The collateral pools continue to perform within Fitch's expectations,
with cumulative net losses currently at 46 basis points. In addition, under
the credit enhancement structure, the securities 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.

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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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
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Contact:

Fitch Ratings
Primary Analyst
Timothy McNally, +1-212-908-0870
Analyst
Fitch, Inc.
One State Street Plaza
New York, NY 10004
or
Secondary Analyst
Peter Chung, +1-212-908-0724
Director
or
Committee Chairperson
Steven Stubbs, +1-212-908-0676
Senior Director
or
Media Relations
Sandro Scenga, New York, +1-212-908-0278
sandro.scenga@fitchratings.com
 
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