| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | S&P | Moody's |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 117.0 | 10.1% | 89.9% | — | — | 2027-07-15 | AAA | Aaa |
| Class A-2a | 409.3 | 35.3% | 54.7% | — | — | 2029-03-15 | AAA | Aaa |
| Class A-2b | — | — | — | — | — | 2029-03-15 | AAA | Aaa |
| Class A-3 | 409.3 | 35.3% | 19.4% | — | — | 2029-12-15 | AAA | Aaa |
| Class A-4 | 64.4 | 5.6% | 13.9% | — | — | 2030-07-15 | AAA | Aaa |
| Class B | 73.0 | 6.3% | 7.6% | — | — | 2030-09-15 | AA | Aa2 |
| Class C | 28.1 | 2.4% | 5.2% | — | — | — | — | — |
| Class D | 59.9 | 5.2% | 0.0% | — | — | — | — | — |
| Sponsor | Ford Motor Credit Company LLC |
|---|---|
| Servicer | Portfolio Residual Performance |
| Depositor / Transferor | Ford Credit and the depositor may be required |
| Indenture Trustee | U.S. Bank Trust Company, National Association |
| Owner Trustee | The Bank of New York Mellon |
| Asset Rep. Reviewer | Clayton Fixed Income Services LLC |
| Underwriters | BMO Capital Markets, BofA Securities, Wells Fargo Securities, MUFG Securities Americas |
| FCALT 2026-B | FCALT 2026-A | FCALT 2025-B | FCALT 2025-A | FCALT 2024-B | |
|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||
| Closing date | 2026-07-27 | 2026-01-26 | 2025-07-29 | 2025-01-27 | 2024-07-23 |
| Pool balance | — | $2,068.3MM | $1,560.5MM | $1,560.5MM | $1,560.5MM |
| WA Lessee Credit Score | 763−1 | 763 | 764 | 764 | 764 |
| WA original term mo | 37.2+1.4 | 36.8 mo | 35.8 mo | 35.1 mo | 35.8 mo |
| WA Residual % MSRP | — | 63.7% | 49.8% | 50.2% | 49.2% |
| ALG-marked residuals | 90.1% | 86.8% | 85.2% | 80.1% | 81.3% |
| WA Securitization Value | — | $993,604,775 | $33,269 | $34,499 | $32,312 |
| Top-3 model concentration | — | 55.8% | 54.5% | 53.6% | 52.8% |
| Geo top-3 | MI 29.3% NY 10.6% CA 9.1% | MI 30.9% NY 10.2% CA 8.9% | MI 33.4% NY 10.5% CA 8.4% | MI 38.9% NY 10.8% CA 7.0% | MI 38.7% NY 11.6% CA 6.7% |
| Structure (at issuance) | |||||
| AAA spread | — | +34 bps | +39 bps | +41 bps | +40 bps |
| AAA % of pool | — | 52.7% | 70.2% | 68.5% | 72.2% |
| Initial OC | — | 7.00% | 7.00% | 7.00% | 7.00% |
| Target OC | — | 9.00% | 9.00% | 9.80% | 9.80% |
| Subordination below AAA | — | 9.7% | 12.9% | 12.9% | 12.9% |
| Total Hard CE (Initial) | — | 22.67% | 20.85% | 22.67% | 22.65% |
| Total Hard CE (Target) | — | 24.67% | 22.85% | 25.47% | 25.45% |
| Discount rate | — | 8.90% | 9.30% | 9.40% | 10.25% |
| Tranches | 8 | 8 | 8 | 8 | 8 |
| FCALT 2026-B | PILOT 2026-1 | GMALT 2026-2 | BMWLT 2026-1 | WOALT 2026-A | VWALT 2026-A | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2026-07-27 | 2026-06-12 | 2026-05-14 | 2026-04-22 | 2026-03-25 | 2026-03-24 |
| Pool balance | — | — | $1,543.7MM | $1,727.1MM | — | $1,994.2MM |
| WA Lessee Credit Score | 763−17 | 796 | 780 | 792 | 741 | 774 |
| WA original term mo | 37.2+1.7 | 35.0 mo | 35.0 mo | 36.0 mo | 37.7 mo | — |
| WA Residual % MSRP | — | — | 53.1% | 48.3% | 58.4% | 47.3% |
| ALG-marked residuals | 90.1% | — | 92.9% | 100.0% | — | 97.4% |
| WA Securitization Value | — | — | $35,221 | $56,395 | — | $33,479 |
| Top-3 model concentration | — | — | 37.4% | 20.7% | — | 48.3% |
| Geo top-3 | MI 29.3% NY 10.6% CA 9.1% | CA 37.1% FL 13.1% NY 7.6% | MI 27.6% NY 13.2% FL 9.2% | CA 20.8% FL 13.9% NY 10.1% | FL 64.9% NC 12.7% GA 8.7% | CA 19.6% FL 14.3% NY 11.8% |
| Structure (at issuance) | ||||||
| AAA spread | — | +35 bps | +39 bps | +37 bps | +43 bps | +47 bps |
| AAA % of pool | — | 84.2% | 62.5% | 72.4% | 78.1% | 72.4% |
| Initial OC | — | — | 10.00% | 13.15% | — | 14.25% |
| Target OC | — | — | 11.00% | 15.65% | — | 17.75% |
| Subordination below AAA | — | 0.0% | 7.7% | 0.0% | 9.4% | 0.0% |
| Total Hard CE (Initial) | — | — | 18.94% | 13.40% | — | 14.50% |
| Total Hard CE (Target) | — | — | 19.94% | 15.90% | — | 18.00% |
| Discount rate | — | — | 10.00% | 10.75% | — | 9.95% |
| Tranches | 8 | 5 | 7 | 5 | 7 | 5 |
Anchor expectations in empirical base rates from the sponsor's prior series and FICO-tier peer set.