SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report
(Date of earliest event reported) December 15, 1994
FORD CREDIT 1994-B GRANTOR TRUST
(FORD CREDIT AUTO RECEIVABLES CORPORATION - ORIGINATOR)
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(Exact name of registrant as specified in its charter)
DELAWARE 33-54125 38-2973806
- -----------------------------------------------------------------
(State of other juris- (Commission File Number) (IRS Employer
diction of incorporation Identification
No.)
THE AMERICAN ROAD, DEARBORN, MICHIGAN 48121
- -------------------------------------- -------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 313-322-3000
<PAGE>
ITEM 5. OTHER EVENTS
The monthly distribution of principal and interest to
Certificateholders relating to the Ford Credit 1994-B Grantor
Trust is contained in the Monthly Report for the Collection
Period ended November 30, 1994 provided to Chemical Bank,
as trustee, and to the Certificateholders. Such Monthly Report
is attached hereto as Exhibit 19 and is incorporated herein by
reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION
AND EXHIBITS
EXHIBITS
DESIGNATION DESCRIPTION METHOD OF FILING
Exhibit 19 Report dated December 15, 1994 Filed with this
for the month ending report.
November 30, 1994 provided to
Chemical Bank, as trustee
under the Ford Credit
1994-B Grantor Trust,
and to Certificateholders.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized on the
date indicated.
FORD CREDIT 1994-B GRANTOR TRUST
(FORD CREDIT AUTO RECEIVABLES
CORPORATION - ORIGINATOR)
Date: December 15, 1994 By:/s/R. P. Conrad
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R. P. Conrad
Assistant Secretary
of Ford Credit Auto
Receivables Corporation,
originator of Trust
<PAGE>
EXHIBIT INDEX
DESIGNATION DESCRIPTION
Exhibit 19 Report for the month ending
November 30, 1994 provided to
Chemical Bank, as trustee under
the Ford Credit 1994-B Grantor
Trust, and to Certificateholders.
Page 1 of 3
Ford Credit NOV 1994-B Grantor Trust
7.30% Asset Backed Certificates
MONTHLY SERVICING REPORT
------------------------
Collection Period: November 1994
Distribution Date: December 15, 1994
Number of
Dollar Amount Contracts
------------- ---------
Principal Deposits in Collection Account
- ----------------------------------------
Scheduled Principal Payments $ 17,547,466.36
Prepayments in Full 14,743,272.39
Warranty and Administrative Repurchases 7,338.66
Liquid. Proceeds, Recov. & Released Payaheads 16,565.46
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Available Principal Amount $ 32,314,642.87
Realized Losses 3,668.67
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Monthly Principal Distributable Amount $ 32,318,311.54
Interest Deposits in Collection Account
- ---------------------------------------
Available Interest Amount $ 11,502,020.29
Servicing Fee
- -------------
Class A Servicing Fee $ 915,522.96
Class B Servicing Fee 63,645.98
Servicing Fee Carryforward Amount 0.00
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Total Servicing Fee $ 979,168.94
Available Subordination Amount 3,862,955.79
Servicing Fee Shortfall Amount 0.00
Reimbursable Advances 467.44
Available Int. Amount for Certificateholders 10,522,383.91
Schedule of Distributions to Certificateholders
- -----------------------------------------------
Class A
- -------
Class A Interest Distributable Amount $ 6,683,317.62
Plus: Class A Int. Carryover Shortfall 0.00
Less: Class A Available Interest Amount 9,838,428.96
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Class A Interest Draw Amount $ 0.00
Less: Available Subordination Amount 7,702,022.07
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Class A Interest Shortfall Amount $ 0.00
Remaining Class A Available Interest Amount 3,155,111.33
Interest Distribution to Class A $ 6,683,317.62
Class A Principal Distributable Amount $ 30,217,621.29
Plus: Class A Prin. Carryover Shortfall 0.00
Less: Class A Available Principal Amount $ 30,214,191.08
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Class A Principal Draw Amount $ 3,430.21
Less: Available Subordination Amount 7,702,022.07
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Class A Principal Shortfall Amount $ 0.00
Principal Distribution to Class A $ 30,217,621.29
<PAGE>
Page 2 of 3
Ford Credit NOV 1994-B Grantor Trust
7.30% Asset Backed Certificates
MONTHLY SERVICING REPORT
------------------------
Collection Period: November 1994
Distribution Date: December 15, 1994
Number of
Dollar Amount Contracts
------------- ---------
Class B
- -------
Class B Interest Distributable Amount $ 3,839,066.29
Plus: Class B Int. Carryover Shortfall 0.00
Less: Class B Available Interest Amount 3,839,066.29
Plus: Class B Interest Draws 0.00
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Class B Interest Shortfall Amount $ 0.00
Interest Distributions to Class B $ 3,839,066.29
Class B Principal Distributable Amount $ 2,100,690.25
Plus: Class B Prin. Carryover Shortfall 0.00
Less: Class B Available Principal Amount 2,100,451.79
Plus: Class B Principal Draws 3,430.21
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Class B Principal Shortfall Amount $ 3,668.67
Principal Distributions to Class B $ 2,097,021.58
Principal Balances
- ------------------
Class A Beginning Principal Balance $ 1,098,627,554.60
Less: Reductions to Class A Prin. Balance 30,217,621.29
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Class A Ending Principal Balance $ 1,068,409,933.31
Class B Beginning Principal Balance $ 76,375,177.59
Less: Reductions to Class B Prin. Balance 2,100,690.25
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Class B Ending Principal Balance $ 74,274,487.34
Beginning Pool Principal Balance $ 1,175,002,732.19 83,300
Less: Reductions in Pool Prin. Balance 32,318,311.54
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Ending Pool Principal Balance $ 1,142,684,420.65 82,229
Calculation of Pool Factor
- --------------------------
Class A Pool Factor (End Class A Prin. 0.9724951
Bal. divided by Init. Class A Prin. Balance
to 7 decimal places)
Calculation of Subordinated Spread Account
- ------------------------------------------
Lesser of:
A. Specified Subord. Spread Acct. Balance $ 8,812,520.00
and
B. Balance on Previous Payment Date $ 1,762,504.00
Plus: Interest Distrib. to Class B 3,839,066.29
Plus: Principal Distrib. to Class B 2,097,021.58
Less: Withdrawals from Sub. Spread Account 0.00
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Adjusted Subordinated Spread Account $ 7,698,591.87
Remaining Subordinated Spread Account $ 7,698,591.87
(lesser of A or B)
<PAGE>
Page 3 of 3
Ford Credit NOV 1994-B Grantor Trust
7.30% Asset Backed Certificates
MONTHLY SERVICING REPORT
------------------------
Collection Period: November 1994
Distribution Date: December 15, 1994
Number of
Dollar Amount Contracts
------------- ---------
Calc. of Specified Subord. Spread Acct. Ratios
- ----------------------------------------------
Annualized Average Losses/Pool Balance 0.004%
Average Delinquent & Repo Inventory Contracts/ 0.068%
Outstanding Contracts
Advances
- --------
Advances at Beginning of the Month $ 4,297,334.07
Plus: Net Change in Advances 1,682,629.43
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Advances at End of the Month $ 5,979,963.50
Payaheads
- ---------
Payaheads at Beginning of the Month $ 3,616,578.29
Plus: Net Change in Payaheads 727,487.88
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Payaheads at End of the Month $ 4,344,066.17
Delinquency Amounts Excluding Repo Inventory
- --------------------------------------------
31 - 60 Days $ 14,577,609.53 1,033
61 - 90 Days 91,775.47 6
91 - 120 Days 0.00 0
Over 120 Days 0.00 0
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$ 14,669,385.00 1,039
Repo Inventory 50
Rept. No.: 1.022
