OVERVIEW Ford Credit Floorplan Master Owner Trust A's issuance is an ABS securitization backed by a revolving pool of receivables that were originated in connection with dealers purchasing and financing new and used cars, trucks, and utility vehicles, which consist primarily of Ford-manufactured vehicles. We assigned our ratings to the class A, B, C, and D notes. The ratings reflect our view of the transaction's credit support, the subordination step-up period, and the underlying payment structure, among other factors. NEW YORK (Standard&Poor's) Sept. 19, 2012--Standard&Poor's Ratings Services today assigned its ratings to Ford Credit Floorplan Master Owner Trust A's asset-backed notes series 2012-5 (see list). The note issuance is an asset-backed securities transaction backed by a
