DBRS Confirms for Ford Credit Floorplan Master Owner Trust A

DBRS, Inc. (DBRS) confirms the outstanding ratings on two series (Series 2010-2 and 2010-3) issued from Ford Credit Floorplan Master Owner Trust A (FCFMOTA).

The rating confirmation is based on an analysis of the issuance of two new series, Series 2013-3 and Series 2013-4, issued by the Ford Credit Floorplan Master Owner Trust A (FCFMOTA), the various series ability to withstand a dealer concentration analysis, dealer liquidation analysis and stressed cash flow assumptions, availability of credit enhancement and the presence of payment rate triggers in each series. Current performance of the transaction is in line with DBRS expectations.

Notes:
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 rating is endorsed by DBRS Ratings Limited for use in the European Union.