Standard & Poor’s today assigned its preliminary ratings to Toyota Auto Receivables 2000-A Owner Trust’s $1.105 billion asset-backed notes series 2000-A (see list).
The preliminary ratings are based on information as of June 26, 2000. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings.
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The preliminary ratings reflect overcollateralization of 3%, as of the cutoff date receivables, and a reserve account with an initial deposit of 0.25% of the initial receivables balance, growing to a cap of 0.75% of the outstanding receivables balance, and subject to a floor level equal to 0.5% of the initial receivables balance.
A copy of Standard & Poor’s complete presale report for this transaction is available on RatingsDirect, Standard & Poor’s Web-based credit analysis system, at http://www.ratingsdirect.com. The report is also available on Standard & Poor’s Ratings Services Web site at http://www.standardandpoors.com/ratings. Under Presale Reports, select Structured Finance, then Asset-Backed Securities, Standard & Poor’s said.
PRELIMINARY RATINGS ASSIGNED
Toyota Auto Receivables 2000-A Owner Trust
Class Amount ($) Rating
A-2 305,000,000 AAA
A-3 523,000,000 AAA
A-4 277,079,000 AAA
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