Fitch Affirms 6 Classes; Revises Outlook to Positive on 3 Classes of Hyundai Auto Receivables Trust

NEW YORK--()--Fitch Ratings has taken the following rating actions on six classes of the Hyundai Auto Receivables Trust 2012-A transaction:

--Class A-2 affirmed at 'AAAsf'; Outlook Stable;

--Class A-3 affirmed at 'AAAsf'; Outlook Stable;

--Class A-4 affirmed at 'AAAsf'; Outlook Stable;

--Class B affirmed at 'AAsf'; Outlook revised to Positive from Stable;

--Class C affirmed at 'Asf'; Outlook revised to Positive from Stable;

--Class D affirmed at 'BBB+sf'; Outlook revised to Positive from Stable.

The Positive Outlooks on the class B, C and D notes are based on strong collateral performance and loss coverage for the notes. The collateral pool has performed well within Fitch's expectations for the first year of the transaction, with cumulative net losses at 35 basis points to date. The Positive Outlooks reflect Fitch's view that if the notes continue to perform well, upgrades are likely to occur within the next 12 months.

The affirmations of the class A-2, A-3 and A-4 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', April 16, 2012;

--'Global Structured Finance Rating Criteria', June 6, 2012.

Applicable Criteria and Related Research:

Global Structured Finance Rating Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679923

Rating Criteria for U.S. Auto Loan ABS
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=674859

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Contacts

Fitch Ratings
Primary Analyst:
Timothy McNally, +1-212-908-0870
Analyst
Fitch Ratings, Inc.
One State Street Plaza
New York, NY 10004
or
Committee Chairperson:
Bradley Sohl, +1-368-3127
Senior Director
or
Media Relations, New York:
Sandro Scenga, +1-212-908-0278
sandro.scenga@fitchratings.com

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Contacts

Fitch Ratings
Primary Analyst:
Timothy McNally, +1-212-908-0870
Analyst
Fitch Ratings, Inc.
One State Street Plaza
New York, NY 10004
or
Committee Chairperson:
Bradley Sohl, +1-368-3127
Senior Director
or
Media Relations, New York:
Sandro Scenga, +1-212-908-0278
sandro.scenga@fitchratings.com