...OVERVIEW + We reviewed our ratings on two series of notes issued by Ford Credit Floorplan Master Owner Trust A. The transactions are backed by a revolving pool of receivables secured by vehicles from designated floorplan accounts offered by Ford Motor Credit Co. LLC to Ford Motor Co.'s retail automobile dealers. + We raised our ratings on five classes of notes from the two series, affirmed one rating, and removed all six ratings from CreditWatch positive. + The rating actions reflects our views regarding each series' future collateral performance, transaction structure, and available credit enhancement. NEW YORK (S&P Global Ratings) Dec. 21, 2023--S&P Global Ratings today raised its ratings on five classes of subordinate notes from series 2018-4 and 2019-4 issued by Ford Credit Floorplan Master Owner Trust A (FCFMOTA). At the same time, we affirmed our rating on the series 2019-4 class C notes. We also removed all six ratings from CreditWatch, where they were placed with positive implications...
