DBRS Correction: DBRS Assigns BB Rating to New Ford Credit Issue

In the DBRS press release published yesterday announcing Ford Motor Credit Company LLC’s new senior unsecured notes issue, an incorrect rating appeared in the headline. The correct rating for the new issue is BB.

There are no changes to the text of the press release, which appears below.

DBRS has today assigned a rating of BB to the $1 billion Senior Unsecured Notes (the Notes) announced yesterday by Ford Motor Credit Company LLC (Ford Credit or the Company). The trend on the rating is Stable.

The Notes have an initial settlement date of September 21, 2010, with a final maturity date of September 15, 2015.

The Notes have a fixed coupon of 5.625%, and are being priced at 99.466 cents on the dollar.

The Notes rank pari passu with all other senior unsecured obligations of Ford Credit.

The rating reflects the ownership of the Company and considers that the predominant share of Ford Credit’s business consists of financing Ford Motor Company (Ford) vehicles and supporting Ford dealers.

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

The applicable methodology are Rating Auto Finance Companies Operating in the United States, which can be found on the DBRS website under Methodologies.