Market Overview

Fitch Upgrades Two Classes of Ally Auto Receivables Trust 2011-1

NEW YORK--(BUSINESS WIRE)--

Fitch Ratings affirms two classes, and has upgraded two classes of the Ally Auto Receivables Trust 2011-1 transaction as follows:

--Class A-3 affirmed at 'AAAsf'; Outlook Stable;

--Class A-4 affirmed at 'AAAsf'; Outlook Stable;

--Class B upgraded to 'AAAsf' from AAsf'; Outlook Stable;

--Class C upgraded to 'AAsf' from 'Asf'; Outlook Positive.

The rating upgrade of the class B and C notes is based on strong collateral performance and loss coverage for the notes. The collateral pool continues to perform within Fitch's expectations, with cumulative net losses at 21 basis points to date. The Positive Outlook designation on the class C notes reflects Fitch's view that the notes will continue to perform well and should warrant a review for potential upgrade in the next six to eight months.

The affirmations of the class A-3 and A-4 notes in the transaction reflect loss coverage levels consistent with current ratings. The Stable Outlook designation reflects Fitch's view that performance within the transaction is not expected to materially change in the near term and loss coverage is expected to remain consistent with current rating levels.

Additional information is available at 'www.fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.

Applicable Criteria and Related Research:

--'U.S. Auto Loan ABS Rating Criteria', dated April 16, 2012;

--'Global Structured Finance Rating Criteria', dated June 6, 2012.

Applicable Criteria and Related Research:

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679923

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.

Fitch Ratings
Primary Analyst:
Timothy McNally
Analyst
+1-212-908-0870
Fitch, Inc.
One State Street Plaza
New York, NY 10004
or
Committee Chairperson:
Hylton Heard
Managing Director
+1-212-908-0214
or
Media Relations:
Sandro Scenga, +1-212-908-0278 (New York)
sandro.scenga@fitchratings.com

 

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