DBRS Assigns Ratings to Ford Credit Floorplan Master Owner Trust A, Series 2010-3

DBRS has assigned final ratings to the $1.13 billion Ford Credit Floorplan Master Owner Trust A (FCFMOTA or the “Trust”) Series 2010-3 notes. The primary collateral of the Trust are wholesale receivables originated in connection with the purchase and financing by motor vehicle dealers of their new and used car and truck inventory. DBRS considers the floorplan business to be a core asset of Ford Motor Credit Corporation’s (Ford Credit), and its parent, Ford Motor Company. The ratings assigned by DBRS to the FCFMOTA Series 2010-3 notes reflect our opinion that the receivables and the servicing capabilities of Ford Credit are of high quality and that the transaction financial and legal structures are sound. All the notes are issued publicly under Rule 144A of the Securities Act of 1933.

Note:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Rating U.S. Wholesale Auto Securitizations, which can be found on our website under Methodologies.

This is a Structured Finance rating.

The full report providing additional analytical detail is available by clicking on the link below or by contacting us at info@dbrs.com.