Ford Credit Portfolio Grows to $33.5 Billion

Ford Motor Credit‘s portfolio grew to $33.5 billion through March, versus $32.2 billion during the same period in 2013. In a presale report detailing Ford Motor Credit‘s $1.6 billion ABS offering, the company’s second this year, Fitch Ratings said delinquencies and losses in Ford Credit’s portfolio and its 2009-2013 securitizations are currently at “low levels.” That’s supported they say, by the slowly improving U.S. economy and stable used vehicle values and recovery rates. Fitch said one thing to note in Ford Credit’s net loss per delinquent contract is the rise in average net losses on contracts charged off through the first quarter of this year to $3,164 per contract from $2,633 a year earlier.