NEW YORK (Standard & Poor's) June 21, 2006--Standard & Poor's Ratings Services today assigned its preliminary ratings to Ford Credit Floorplan Master Owner Trust A's floating-rate asset-backed notes series 2006-3 (see list). The preliminary ratings are based on information as of June 21, 2006. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings. The preliminary ratings reflect: -- The credit enhancement sufficient to withstand losses at the assigned rating levels; -- The transaction structures, including certain amortization events, allocation waterfalls, and portfolio limitations limiting investor exposure to losses; and -- The underwriting and servicing capabilities of Ford Motor Credit Co. The preliminary ratings do not address the likelihood that the notes will be
