Higher quantum of finance – The maximum credit extended for Ford finance is up to 90% of car value.There are other specific advantages / features associated with Ford finance, the same is as mentioned below – This provides immense support especially on those occasions where there is sudden breakdown of the Ford vehicle. 100% transferable to other cities and is backed by Ford India.Replacement using genuine parts and Certified Ford technicians.There are specific extended service plans which provide the following benefits – Most Ford dealers may introduce plans which can help save on maintenance costs for existing Ford vehicle owner. Special offers and faster credit approvals are extended to ease the application process. Updates regarding benefits / offers related to Ford vehicles will be provided regularly. The Incoming Letter is in Acrobat format.Ford has the legacy of creating programs that benefit the customers the most. Pending further notice, the Division will not recommend enforcement action to the Commission if an asset-backed issuer as defined in Item 1101 of Regulation AB omits the ratings disclosure required by Item 1103(a)(9) and 1120 of Regulation AB from a prospectus that is part of a registration statement relating to an offering of asset-backed securities. Given the current state of uncertainty in the asset-backed securities market and the benefits to investor protection resulting from Securities Act registration, the Division is extending the relief issued to you by letter dated July 22, 2010. We understand that the rating agencies continue to indicate that that they are not willing to provide their consent at this time, and that without an extension of our no-action position, offerings of asset-backed securities would not be able to be conducted on a registered basis. We are doing this to facilitate our consideration of whether and, if so, how those final regulatory actions should affect the Commission’s disclosure requirements regarding credit ratings for asset-backed securities offerings, while permitting registered asset-backed securities offerings to continue without interruption. The Division has determined to extend the no-action position to allow adequate time to complete the regulatory actions required by the Dodd-Frank Act. The Dodd-Frank Act mandates a number of significant changes to the regulatory regime for both credit rating agencies and asset-backed securities. The no-action position was set to expire with respect to any registered offerings of asset-backed securities commencing with an initial bona fide offer on or after January 24, 2011. In order to facilitate a transition for asset-backed issuers, the Division stated its position that we will not recommend enforcement action to the Commission if an asset-backed issuer as defined in Item 1101 of Regulation AB omits the ratings disclosure required by Item 1103(a)(9) and 1120 of Regulation AB from a prospectus that is part of a registration statement relating to an offering of asset-backed securities. In a letter to you dated July 22, 2010, we noted that the rating agencies indicated that they were not willing to provide their consent at the time. As a result, disclosure of a rating in a registration statement requires inclusion of the consent by the rating agency to be named as an expert. Item 1120 also requires a description of any arrangements to have such ratings monitored while the asset-backed securities are outstanding.Įffective July 22, 2010, Section 939G of the Dodd-Frank Act provides that Rule 436(g) shall have no force or effect. If so conditioned, those items require disclosure about the minimum credit rating that must be assigned and the identity of each rating agency. Items 1103(a)(9) and 1120 of Regulation AB require disclosure of whether an issuance or sale of any class of offered asset-backed securities is conditioned on the assignment of a rating by one or more rating agencies. Item 1120 NovemResponse of the Office of Chief Counsel No-Action Letter: Ford Motor Credit Company LLC (November 22, 2010)
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