Fitch Ratings has upgraded three and affirmed two classes of asset-backed notes from Hyundai Auto Receivables Trust (HART), series 2006-A, as follows:
HART 2006-A
--Class A-3 affirmed at 'AAA';
--Class A-4 affirmed at 'AAA';
--Class B upgraded to 'AAA' from 'AA+';
--Class C upgraded to 'A+' from 'A';
--Class D upgraded to 'BBB+' from 'BBB'.
The collateral continues to perform within Fitch's expectations and the securities, under the credit enhancement structure, can now withstand stress scenarios consistent with the upgraded ratings and still make full payments to investors in accordance with the terms of the documents.
As before, the ratings reflect the quality of Hyundai Motor Finance Company retail auto loan originations, the sound financial and legal structure of the transaction, and the strength of servicing provided by Hyundai Motor Finance Company.
Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, 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.
