OVERVIEW Ford Credit Floorplan Master Owner Trust A's series 2010-1 issuance is a securitization of a revolving pool of receivables that were originated in connection with dealers' purchase and financing of new and used car and truck inventories, which consist primarily Ford manufactured vehicles. We assigned our ratings to the class A, B, and C notes. The ratings reflect our view of the transaction's hard credit support, credit risk, underlying payment structure, cash flow mechanics, and legal structure as well as our stress scenarios, among other factors. NEW YORK (Standard&Poor's) Jan. 14, 2010--Standard&Poor's Ratings Services today assigned its ratings to Ford Credit Floorplan Master Owner Trust A's $1.48 billion floating-rate asset-backed notes series 2010-1 (see list).
