NEW YORK — This week, DBRS revealed ratings associated with Chrysler Financial and Ford Credit.

According to DBRS, the assigned provisional ratings to the following classes issued by Chrysler Financial Lease Trust Series 2010-A are:

—Series 2010-A Notes, Class A-1 rated R-1 (high).

—Series 2010-A Notes, Class A-2 rated AAA.

—Series 2010-A Notes, Class B rated AA.

—Series 2010-A Notes, Class C rated A.

"The ratings reflect the ability of the transaction structure to withstand significant stresses relative to base case credit losses, turn-in rates and residual value losses, as appropriate for the rating category," DBRS officials explained. .

Ratings Regarding Ford

Moving on, DBRS also assigned final ratings to the Ford Credit Floorplan Master Owner Trust A 2010-1 (FCFMOTA 2010-1).

Officials stated that the FCFMOTA 2010-1 transaction represents the first publicly issued securitization of Ford Credit's wholesale receivables this year. They went on to note that the FCFMOTA 2010-1 trust assets include:

—A revolving pool of receivables originated in connection with the purchase and financing by motor vehicle dealers of new and used cars and trucks.

—A reserve account.

—A participation interest in pooled participation receivables.

—Third-party financed in-transit receivables.

DBRS also indicated that the FCFMOTA 2010-1 transaction represents the 14th Series issued from the master trust and will be the sixth outstanding series, including two variable funding notes). As of Sept. 30, officials also learned the receivables in the master trust stemmed from 4,524 designated accounts and totaled $8.59 billion. 

"Credit enhancement for the series 2010-1 class A notes is relatively the same as the series 2009-2 class A notes," DBRS stated.

"Enhancement for the class A notes, as a percentage of the total asset balance, is 32.8 percent. This amount is derived from 32.0 percent targeted enhancement level of 32 percent — represented in the form of subordination from the class B and C notes — and a 0.8 percent reserve account," the company continued

DBRS mentioned the total asset balance is $735.3 million.

Additionally, DBRS pointed out that Wells Fargo Bank, National Association, which is rated AA/R-1, is the back-up servicer for the master trust.