Ford Motor Credit Co. is planning a $1.6 billion securitization of new and used automobile, light-truck and utility-vehicle retail contracts, according to a presale report published by Fitch Ratings.
The deal, Ford Credit Auto Owner Trust 2014-B, is the second from the program this year. It will consist of seven tranches of notes. The $394.1 million class A-1 notes maturing in July 2015 were assigned a preliminary F1’ rating. Three tranches of class A notes received AAA’ preliminary ratings: the $538.7 million A-2 notes with a final maturity of March 2017, the $464.5 million A-3 notes maturing in October 2018, and the $102.4 million A-4 notes that reach final maturity in August 2018.