Ford Credit Canada Limited Announces Retail Securitization Transaction


    DEARBORN, Mich., Sept. 3 /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 $950
million (Canadian).

    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
Credit Facility.

    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 Motor 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 and at Ford Motor Credit's investor center,


For further information:

For further information: Media: Margaret Mellott, +1-313-322-5393,, Fixed Income Investment Community: David Dickenson,
+1-313-621-0881, Web Site:

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890