NEW YORK--()--Fitch Ratings affirms three classes, and has upgraded one class of the Ally Auto Receivables Trust 2010-5 transaction as follows:
--Class A-3 affirmed at 'AAAsf'; Outlook Stable;
--Class A-4 affirmed at 'AAAsf'; Outlook Stable;
--Class B affirmed at 'AAAsf'; Outlook Stable;
--Class C upgraded to 'AAAsf' from 'AAsf'; Outlook Stable.
The rating upgrade of the Class C note is based on strong collateral performance and loss coverage for the notes. The collateral pool continues to perform within Fitch's expectations, with cumulative net losses at 20 basis points to date.
The affirmations of the Class A-3, A-4 and B notes in the transaction reflect loss coverage levels consistent with current ratings. The Stable Outlook designation reflects Fitch's view that performance within the transaction is not expected to materially change in the near term and loss coverage is expected to remain consistent with current rating levels.
Additional information is available at www.fitchratings.com. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.
Applicable Criteria and related research:
--'U.S. Auto Loan ABS Rating Criteria', dated April 16, 2012;
--'Global Structured Finance Rating Criteria', dated June 6, 2012.
Applicable Criteria and Related Research:
Rating Criteria for U.S. Auto Loan ABS
Global Structured Finance Rating Criteria