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

CHICAGO--(BUSINESS WIRE)-- Fitch Ratings affirms five classes of the Ally Auto Receivables Trust 2011-5 transaction and revises Outlooks as follows:

--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 to Positive from Stable;

--Class C affirmed at 'Asf'; Outlook 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 11 basis points, as of the most recent reporting period. The Stable Outlook designation on the class A-2, A-3, and A-4 notes reflects Fitch's view that performance within the transactions is not expected to materially change in the near term and loss coverage is expected to remain consistent with current rating levels.

The class B and 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 and C notes are not expected to receive principal payments in the near term. As such, the Outlook for the class B and C 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', April 16, 2012;

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

Applicable Criteria and Related Research:

Rating Criteria for U.S. Auto Loan ABS

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=674859

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679923

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.

Fitch Ratings
Primary Analyst:
Juveria Mozaffar
Associate Director
[phone]
Fitch, Inc.
70 W Madison St
Chicago, IL 60602
or
Committee Chairperson:
Du Trieu
Senior Director
[phone]
or
Media Relations:
Sandro Scenga, [phone] (New York)
[e-mail]

Source: Fitch Ratings