Following the successful reception of the new Motown dealer floorplan conduit and issuance vehicle from Ford Motor Credit, the issuer plans to take the uniquely low liquidity backstop even lower, sources close to the situation confirmed.

The single-seller conduit structure, which offers issuers the ability to fund with only a 5% liquidity backing, is expected to move down to zero - bolstered instead by the offering of paired subordinated ABS offerings, according to issuer and underwriter sources.

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