NEW YORK (Standard&Poor's) July 2, 2008--Standard&Poor's Ratings Services today placed its ratings on nine Ford Motor Co. (Ford; B/Watch Neg/NR)-related transactions on CreditWatch with negative implications (see list). The rating actions reflect the June 20, 2008, placement of the long-term corporate credit and senior unsecured debt ratings on Ford and its related entities on CreditWatch with negative implications. The nine transactions are pass-through transactions, and the ratings on the trusts are based solely on the senior unsecured rating assigned to the underlying collateral. The underlying collateral consists of securities issued by Ford, as indicated in the list below. The corporate rating actions on Ford and its affiliates have no immediate rating impact on the Ford-related asset-backed
