10-K - Ford Credit Auto Owner Trust 2022-C (0001944485) (Filer)

Fri, Mar 21, 12:04 PM (37 days ago)

**Summary of Ford Credit Auto Owner Trust 2022-C 10-K for the fiscal year ended December 31, 2024** **Company Overview:** Ford Credit Auto Owner Trust 2022-C (Trust) is a securitization vehicle sponsored by Ford Motor Credit Company LLC (Ford Credit). The Trust holds auto receivables, with Ford Credit and The Bank of New York Mellon (BNYM) serving as key servicing participants. **Financial Performance:** The 10-K does not provide specific financial figures for revenue, net income, or operating expenses. However, it includes detailed financial information related to the pool assets and servicing activities. **Strategic Overview and Market Position:** The Trust's strategy revolves around the securitization of auto receivables, with a focus on compliance with servicing criteria. The market position is maintained through the servicing functions performed by Ford Credit and BNYM. **Future Outlook:** The future outlook is not explicitly detailed in the provided summary. However, the Trust's performance is tied to the auto receivables market and the effectiveness of the servicing functions. **Risk Factors:** The primary risk factor noted is the material instances of noncompliance with servicing criteria by BNYM, which do not affect the assets backing the Trust's securities. Ford Credit has confirmed compliance with all applicable servicing criteria. **Financial Condition:** The financial condition is supported by the servicing compliance statements and attestation reports from independent accounting firms. The Trust's financial health is tied to the performance of the underlying auto receivables. **Key Exhibits:** - Amended Certificate of Formation and LLC Agreement of Ford Credit Auto Receivables Two LLC. - Indenture, Trust Agreement, Receivables Purchase Agreement, and other legal documents. - Servicing compliance statements and attestation reports from Ford Credit and BNYM. **Conclusion:** The 10-K highlights the Trust's compliance with servicing criteria and the absence of material noncompliance affecting the Trust's assets. The financial condition is robust, supported by detailed servicing compliance reports. The Trust's future performance will depend on the auto receivables market and the continued effectiveness of the servicing functions.