Presale: Honda Auto Receivables 2006-1 Owner Trust
Primary Credit Analyst: Amanda M Soriano New York (1) 212-438-2609 firstname.lastname@example.org
Secondary Credit Analyst: Nadine E Gunter New York (1)212-438-2475 email@example.com
Ratings Direct Publication Date March 21,2006
$1.261 Billion Asset-Backed Notes Series 2006-1
This presale report is based on information as of March 21,2006. The ratings shown are preliminary. This report does not constitute a recommendation to buy, hold, or sell securities. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings.
Expected closing date: March 28,2006.
Collateral: The $1.303 billion collateral pool consists of 74,512 fully amortizing, level, monthly pay auto loan contracts.
Underwriters: Barclays Capital and Citigroup.
Seller: American Honda Receivables Corp.
Servicer: American Honda Finance Corp.
Indenture trustee: JPMorgan Chase Bank N.A.
Owner trustee: Citibank N.A.
The preliminary ratings assigned to Honda Auto Receivables 2006-1 Owner Trust's auto receivables asset-backed notes series 2006-1 reflect:
- The credit enhancement provided by the 3.25% subordinated certificate s, a 0.50% reserve fund building to 0.75% of the initial pool ...