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  "documentTitle": "Ford | Investor Presentation Deck | 110 slides",
  "authorId": "ford",
  "authorName": "Ford",
  "documentKindSlug": "conference-presentation",
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  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2025-02-01 00:00:00",
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  "pageCount": 110,
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      "text": "Since May 2014, Ford Credit has offered 20 Revolving Extended Variable Utilization (FordREV) transactions\nAt present, more than $11 billion in outstanding notes\nFeatures a 5-year revolving period (7-year tenor for 2018-REV1), fixed-rate coupons and subsequent soft-bullet maturity\n2025-REV1 is the most recent issuance, with Class A notes of $1.75 billion\n12 FordREV transactions have already been redeemed, each at its expected final payment date\nFordREV notes consist of a AAA-rated senior tranche and three subordinated classes of notes*\nFordREV notes are backed by U.S. retail auto receivables originated by Ford Credit - comparable to the receivables in its US publicly-registered retail securitization program (FORDO)\nDuring the revolving period, monthly collections are deposited in an accumulation account and are available to purchase additional receivables\nFordREV notes may be backed by a combination of receivables and cash\nPool concentration limits safeguard the quality of the collateral backing the notes\nThe notes are expected to be redeemed in full at the end of the revolving period\nStep-up or make-whole amounts may otherwise be payable\nEmbedded 6-month par call option was removed in 2024-REV1 which has never been exercised in prior transactions",
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      "text": "The third and most subordinated class of note (the Class D Note) was first offered in April 2021 as part of 2021-REV1; all prior FordREV transactions offered two subordinated classes of notes",
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