Fitch Gives Favorable Outlook of Hyundai Loan Receivables
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NEW YORK — Last week, Fitch Ratings affirmed the outstanding notes of Hyundai Auto Receivables Trust 2007-A as part of its ongoing surveillance process.
Fitch explained the rating reflects the quality of Hyundai Motor Finance's retail auto loan originations, the sound financial and legal structure of the transaction, and servicing provided by the lender.
Fitch decided to affirm the following:
—Class A-3a notes at AAAsf: outlook stable.
—Class A-3b notes at AAAsf: outlook stable.
—Class A-4 notes at AAAsf: outlook stable.
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Fitch analysts found the automaker's collateral continues to perform within their base case expectations.
"Currently, the securities can withstand stress scenarios consistent with the current rating categories and still make full payments of interest and principal in accordance with the terms of the documents," the analysts stated.
