...- Ford Auto Securitization Trust II's series 2022-A issuance is an ABS securitization backed by a pool of Canadian dollar-denominated, fixed-rate prime auto loan receivables originated by Ford Credit Canada Co. - We assigned our ratings to the class A-1, A-2, A-3, B, and C notes. - The ratings reflect our view of the transaction's credit enhancement and payment and legal structures, among other factors. NEW YORK (S&P Global Ratings) Oct. 25, 2022--S&P Global Ratings today assigned its ratings to Ford Auto Securitization Trust II's series 2022-A asset-backed notes (see list). The note issuance is an ABS securitization backed by a pool of Canadian dollar-denominated, fixed-rate prime auto loan receivables originated by Ford Credit Canada Co. The ratings reflect our view of: - The availability of approximately 12.5%, 11.5%, and 9.3% credit support (hard credit enhancement and excess spread) to the class A, B, and C notes, respectively, based on stressed break-even cash flow scenarios. These...
