Nine Rtgs Affirmed On Four Ford Credit Floorplan Master Owner Trust A Series; 19 Rtgs On 10 Series Placed On CW Negative

OVERVIEW Following the recent downgrade of Ford Motor Co. and its subsidiaries, we reviewed the outstanding series issued under the Ford Credit Floorplan Master Owner Trust A, which is backed by a revolving pool of receivables secured by vehicles from designated floorplan accounts offered by Ford Credit to Ford's retail automobile dealers. We affirmed nine ratings from four series and placed 19 ratings from 10 series on CreditWatch with negative implications. NEW YORK (S&P Global Ratings) April 6, 2020--S&P Global Ratings today affirmed its ratings on nine classes from four series issued under Ford Credit Floorplan Master Owner Trust A. At the same time, we placed 19 classes from 10 series on CreditWatch with negative implications following the March 25,

...OVERVIEW + Following the recent downgrade of Ford Motor Co. and its subsidiaries, we reviewed the outstanding series issued under the Ford Credit Floorplan Master Owner Trust A, which is backed by a revolving pool of receivables secured by vehicles from designated floorplan accounts offered by Ford Credit to Ford's retail automobile dealers. + We affirmed nine ratings from four series and placed 19 ratings from 10 series on CreditWatch with negative implications. NEW YORK (S&P Global Ratings) April 6, 2020--S&P Global Ratings today affirmed its ratings on nine classes from four series issued under Ford Credit Floorplan Master Owner Trust A. At the same time, we placed 19 classes from 10 series on CreditWatch with negative implications following the March 25, 2020, downgrade of Ford Motor Co. and its subsidiaries, including Ford Motor Credit Co. LLC (FMCC). Each series is backed by a revolving pool of receivables and related assets arising from floorplan financing agreements originated and...

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