Fitch Affirms 5 Classes of Ally Auto Receivables Trust 2011-1

Fitch Affirms 5 Classes of Ally Auto Receivables Trust 2011-1 | Bild: © ad-hoc-news

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

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

The rating affirmations reflect strong collateral performance and increasing credit enhancement levels for the outstanding notes. The collateral pool has performed within Fitch's expectations, with cumulative net losses totaling 10bps, as of the most recent reporting period.

The class B & C notes have experienced improvement in loss coverage and may warrant positive rating actions in the near term as the transaction continues to amortize. However, due to the subordinate nature of the structure, the class B & C notes are not expected to receive principal payments in the near term. As such, the Outlook for these notes is revised to Positive.

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 20, 2011;

--'Global Structured Finance Rating Criteria', dated Aug. 4, 2011.

Applicable Criteria and Related Research:

U.S. Auto Loan ABS Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=614367

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=646569

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