DEARBORN, Mich., Aug. 21 /CNW/ -- Ford Credit Canada Limited announced
today that it completed a securitization of a pool of retail conditional sale
contracts, receiving immediately available proceeds of approximately $1.0
Under the securitization transaction, a master trust sponsored by Ford
Credit Canada Limited, Ford Auto Securitization Trust (FAST), purchased a pool
of retail conditional sale contracts from Ford Credit Canada Limited. FAST
financed the purchase by issuing a series of asset-backed notes to a third
party investor. This transaction is not associated with the Canadian Secured
FAST is consolidated with Ford Credit Canada Limited for accounting
purposes. As a result of such consolidation, both the pool of retail
contracts and the indebtedness incurred by FAST with respect to the series of
asset-backed notes will be reflected on the consolidated financial statements
of Ford Credit Canada Limited.
Ford Credit Canada Limited will loan the immediately available proceeds
to an indirect parent company. Ford Credit Canada Limited is an indirect,
wholly owned subsidiary of Ford Motor Credit Company.
Ford Motor Credit Company LLC is one of the world's largest automotive
finance companies and has supported the sale of Ford products since 1959.
Ford Credit is an indirect, wholly owned subsidiary of Ford Motor Company. It
provides automotive financing for Ford, Lincoln, Mercury and Volvo dealers and
customers. More information can be found at http://www.fordcredit.com and at
Ford Credit's investor center, http://www.fordcredit.com/investorcenter/.
For further information:
For further information: Media: Margaret Mellott, +1-313-322-5393,
firstname.lastname@example.org; or Fixed Income Investment Community: David Dickenson,
+1-313-621-0881, email@example.com Web Site: http://www.fordcredit.com