NEW YORK--(BUSINESS WIRE)-- Fitch Ratings affirms the following classes of Honda Auto Receivables Owner Trust 2011-3 transaction as part of its ongoing surveillance:
--Class A-2 at 'AAAsf'; Outlook Stable;
--Class A-3 at 'AAAsf'; Outlook Stable;
--Class A-4 at 'AAAsf'; Outlook Stable.
The rating affirmations are based on available credit enhancement and loss performance to date. The collateral pool continues to perform within Fitch's expectations. In addition, under the credit enhancement structure, the securities are able to withstand stress scenarios consistent with the original ratings and make full payments to investors in accordance with the terms of the documents.
The ratings reflect the quality of American Honda Finance Corporation's (AHFC) retail auto loan originations, the strength of its servicing capabilities and the sound financial and legal structure of the transaction.
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
John Alberici, +1-212-908-0370
One State Street Plaza
New York, New York 10004
Bradley Sohl, +1-312-368-3127
Sandro Scenga, New York, +1 212-908-0278
Source: Fitch Ratings