NEW YORK–( BUSINESS WIRE )–Fitch prices Wachovia car Loan holder Trust 2006-2 fixed-rate notes that are asset-backed follows:

–$219,000,000 class A-1 ‘F1+’;

–$378,000,000 course A-2 ‘AAA’;

–$306,000,000 course A-3 ‘AAA’;

–$135,000,000 class A-4 ‘AAA’;

–$45,000,000 class B ‘AA’;

–$48,000,000 course C ‘A’;

–$39,000,000 class D ‘BBB+’;

–$30,000,000 course E ‘BB’.

The securities are supported by a pool of brand new and utilized car and light-duty truck installment loans originated by WFS Financial Inc (WFS), a subsidiary of Wachovia Bank N.A. (Wachovia). The ratings that are expected the records depend on the improvement given by subordination, over-collateralization (OC), and a money book account. The expected ratings also mirror the servicing capabilities of Wachovia, the top quality of retail auto receivables originated by WFS, and also the sound legal and cash movement structures. Wachovia car Loan holder Trust 2006-2 represents Wachovia’s 2nd securitization of WFS collateral subsequent to its purchase of Westcorp and its own car finance company, WFS.

The course a records have actually credit that is initial (CE) of 13.75 percent, composed of 13.50per cent subordination, and a 0.25% reserve. The class B records are supported by initial CE of 10.00% composed of 9.75per cent subordination, and a 0.25% book. The course C notes have 6.00% CE (5.75% subordination and a 0.25% book), the class D records have actually 2.75% initial CE (2.5% subordination and a 0.25% reserve) and course E notes have actually 0.25% initial CE (0.25% book). CE is anticipated to cultivate to 15.00per cent for Class A; 11.25% for course B, have a glance at the link 7.25 for course C and 4.00% for course D and 1.5% for class E via accumulation for the money book account to 0.50percent regarding the initial pool stability therefore the development of OC to 1.00per cent for the outstanding balance that is pool. Money book flooring is placed to 0.50percent regarding the pool that is initial even though the flooring for OC equals to 0.50per cent.

The receivables had a weighted average APR of 12.42% as of the statistical cutoff date. The weighted average original readiness for the pool ended up being 67.0 months while the weighted typical remaining term ended up being 63.5 months leading to around 3.5 months of security seasoning. The pool has a big concentration of receivables originated in Ca (34.02%). The next four biggest state levels are Arizona (5.88%), Washington (5.75%), Texas (4.01%) and Nevada (3.14%). The publicity in California may matter the pool to prospective local financial downturns; nevertheless, the staying part of the pool is well diversified.

Interest and principal are payable month-to-month, beginning Dec. 20, 2006. Extra structural security is supplied to senior noteholders through a moving repayment concern system. In each circulation duration, a test will soon be done to determine note collateralization quantities. If records are undercollateralized, re re payments of great interest to subordinate classes may be suspended and made available as major to raised rated classes.

Based on overview of WFS’s retail car loan profile performance, prior WFS securitizations, while the structure associated with the assets when you look at the securitized pool, Fitch expects Wachovia car Loan holder Trust 2006-1 to do in keeping with current securitizations. Through June 30, 2006, WFS’s managed retail portfolio of around $13.9 billion had total delinquencies of 1.87per cent, and web chargeoffs of 1.28% (annualized). Both data were determined as a share for the quantity of agreements outstanding.

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Connections

Fitch RatingsDavid Petu, 212-902-0280 (ny)Hylton Heard, 212-908-0214 ( brand brand New York)Ravi R. Gupta, 312-368-2058 (Chicago)Sandro Scenga, 212-908-0278(Media Relations, ny)