After proving that it has access to funding with its successful wholesale dealer floorplan transaction last week, Ford Motor Credit is unlikely to tap the U.S. floorplan sector for the foreseeable future, sources said. Despite the strong investor demand that led to an increase in size, Ford's master trust is approaching fully funded status and the issuer currently plans to wait until its series 2001-2 transaction matures next July before tapping the sector again.
Although Ford could come right back in the market with a floorplan transaction should the market conditions make it compelling to do so, it would have to first reduce its Motown Funding outstandings, something it has not historically done, said company spokeswoman Chris Solie. "Our public term funding plan has not changed. But when the market gives us the opportunity, we will access it." Solie added.