Fri, Mar 21, 12:12 PM (30 days ago)
**Summary of Ford Credit Auto Owner Trust 2024-C 10-K** **Company Overview:** Ford Credit Auto Owner Trust 2024-C (Trust) is an asset-backed security (ABS) trust 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) as servicing participants. **Financial Performance:** The 10-K does not provide specific financial figures for revenue, net income, or operating expenses. However, it includes various reports and attestations related to the Trust's financial condition and servicing compliance. **Strategic Overview & Future Outlook:** The Trust's strategy revolves around managing auto receivables and ensuring compliance with servicing criteria. The future outlook depends on the performance of the underlying auto receivables and the effectiveness of the servicing arrangements. **Risk Factors:** The primary risk factor noted is material instances of noncompliance with servicing criteria by BNYM, although these instances do not directly impact the Trust's assets. Ford Credit has confirmed its compliance with relevant servicing criteria. **Market Position & Financial Condition:** The Trust does not have voting or non-voting common equity outstanding held by non-affiliates. The financial condition is assessed through various reports and attestations included in the filing. **Key Changes & Exhibits:** - Amendments to the Certificate of Formation and Limited Liability Company Agreement of Ford Credit Auto Receivables Two LLC. - Indenture, Trust Agreement, Receivables Purchase Agreement, Sale and Servicing Agreement, Administration Agreement, Account Control Agreement, and Asset Representations Review Agreement, all dated September 1, 2024. - Reports on Assessment of Compliance with Servicing Criteria for Ford Credit and BNYM, along with related attestation reports. **Ticker:** Not applicable as the Trust is not a publicly traded entity.