NEW YORK (Standard&Poor's) Sept. 26, 2008--Standard&Poor's Ratings Services today assigned its 'AAA' rating to Ford Credit Floorplan Master Owner Trust A's $1.0 billion class A floating-rate, asset-backed notes series 2008-1 (see list). The rating reflects: -- The credit enhancement sufficient to withstand losses at the assigned rating levels; -- The transaction structures, including certain amortization events, allocation waterfalls, and portfolio limitations that limit investors' exposure to losses; and -- Ford Motor Credit Co.'s underwriting and servicing capabilities. The rating does not address the likelihood that the notes will be retired on Sept. 15, 2009 (the expected final payment date), but it does address the ultimate payment of principal by Sept. 15, 2011 (the legal final payment
