Fitch Ratings affirms the outstanding notes of Chase Auto Owner Trust 2006-B (CAOT 2006-B) as part of its on going surveillance process.
The collateral continues to perform within Fitch's base case expectations. Currently, the securities can withstand stress scenarios consistent with the rating categories and still make full payments of interest and principal in accordance with the terms of the documents.
As before, the rating reflects the quality of Chase Bank USA, N.A.'s (Chase) retail auto loan originations, the sound financial and legal structure of the transaction, and servicing provided by Chase.
Fitch affirms CAOT 2006-B as follows:
--Class A-4 notes at 'AAA', Outlook Stable;
--Certificates at 'AA-', Outlook Stable.
Applicable Criteria is available on Fitch's Web site at www.fitchratings.com: 'Rating U.S. Auto-Loan Backed Securitizations: A Tune-Up,' dated May 30, 2007, and 'Global Structured Finance Rating Criteria', dated Sept. 30, 2009.
Additional information is available at www.fitchratings.com.
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.
Contacts:
Fitch Ratings, New York
Hylton Heard, +1-212-908-0214
Sandro
Scenga, +1-212-908-0278 (Media Relations)
sandro.scenga@fitchratings.com
