-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, U5tgGvtFthzFqSI7eHndvvnrIgpc6UUAGcdcZFVA+I3Vc9vfqgTxjXnHVoVccn09 qQ0elkFa4ql2LwVhGtxmUA== 0000923261-97-000008.txt : 19970925 0000923261-97-000008.hdr.sgml : 19970925 ACCESSION NUMBER: 0000923261-97-000008 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19960630 FILED AS OF DATE: 19970924 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: HONDA AUTO RECEIVABLES 1994-A GRANTOR TRUST CENTRAL INDEX KEY: 0000923261 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 330526079 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 033-67204-04 FILM NUMBER: 97684841 BUSINESS ADDRESS: STREET 1: 700 VAN NESS AVE STREET 2: AMERICAN HONDA RECEIVABLES CORP CITY: TORRANCE STATE: CA ZIP: 90501 BUSINESS PHONE: 3107814100 MAIL ADDRESS: STREET 1: PO BOX 2295 STREET 2: AMERICAN HONDA AUTO RECEIVABLES CORP CITY: TORRANCE STATE: CA ZIP: 90501 10-Q 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q [ X ] Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended June 30, 1996 or [ ] Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from to Commission File Number 33-67204 Honda Auto Receivables 1994-A Grantor Trust (Exact name of registrant as specified in its charter) California 33-0526079 (State or other jurisdiction of incorporation) (I.R.S. Employer identification No.) 700 Van Ness Avenue Torrance, CA 90501 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (310)781-4100 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section13 or 15(d) of the securities Exchange Act. of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. X Yes No Item 5. Other Events On May 15, June 15 and July 15 , the Principal and interest collected during the preceding calendar quarter, net of certain adjustments as provided for in the Pooling and Servicing Agreement dated as of February 1, 1994 (the "Agreement"), between American Honda Receivable Corporation, as Seller, American Honda Finance Corporation, as Servicer, and The Mitsubishi Bank Trust Company of New York, as Trustee (the "Trustee"), were distributed to holders ("Certificateholders") of certificates representing undivided fractional interests in Honda Auto Receivables 1994-A Grantor Trust. In accordance with the Agreement, the Servicer's Certificate, as defined in the Agreement, was furnished to the Trustee for the benefit of the Certificateholders and, as such, was distributed by the Trustee to the Certificateholders. A copy of the Servicer's Certificate is being filed as Exhibit 99 to this Quarterly Report on Form 10-Q. Item 6 (c). Exhibits and Reports on Form 8-K (a) Exhibit 99 Servicer's Certificate for The First Quarter of 1997 (b) Reports on Form 8K Reports Date The month of Apr. 1996 (May 15, 1996) The month of May. 1996 (June 15,1996) The month of Jun. 1996 (July 15, 1996) SIGNATURES 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 hereunto duly authorized. Honda Auto Receivables 1994-A Grantor Trust By: American Honda Finance Corporation, as Servicer (Registrant) By: /s/ John Weisickle John Weisickle, Sr. Vice President/ Finance EX-99 2
AMERICAN HONDA FINANCE CORPORATION QUARTERLY SERVICER REPORT -- Honda Auto Receivables 1994-A Grantor Trust April 1, 1996 through June 30, 1996 A. ORIGINAL DEAL PARAMETER INPUTS (A) Original Total Portfolio $435,814,748.61 (B) Class A Certificate Ownership Interest of the Trust 92.75% (C) Original Class A Certificate Balance $404,218,179.34 (D) Class A Certificate Rate 4.80% (E) Original Class B Certificate Balance $31,596,569.27 (F) Class B Certificate Rate 4.80% (G) Servicing Fee Rate 1.00% (H) Original Weighted Average Coupon (WAC) 9.44% (I) Original Weighted Average Remaining Term (WAM) 47.13 month (J) Number of Contracts 41,400 (K) Reserve Fund $0.00 (i) Reserve Fund Initial Deposit Percentage 0.15% (ii) Reserve Fund Initial Deposit $653,722.00 (iii) Specified Reserve Fund Balance Percent 0.75% (iv) Specified Reserve Fund Balance $3,268,611.00 (v) Floor Percent 1.50% (vi) Floor Amount $6,537,221.00 (vii) Floor Trigger Amount $130,744,425.00 (L) Original Letter of Credit Amount 30,000,000.00 (M) Number of Contructs @2/1/94 (L.C.Reset Percentage Basis) 41,400 B. INPUTS FROM PREVIOUS MONTHLY SERVICER REPORTS (A) Total Portfolio Outstanding $130,581,262.37 (B) Total Portfolio Pool Factor 0.2996256 (C) Class A Certificate Balance $121,114,120.85 (D) Class A Principal Factor 0.2996256 (E) Class B Certificate Balance $9,467,141.52 (F) Reserve Fund Balance $6,537,221.00 (G) Outstanding Advance 1,583,665.15 (H) Payahead Account Balance 1,969,442.78 (I) Cumulative Net Losses for All Prior Periods 1,883,944.94 (J) Weighted Average Coupon of Remaining Portfolio (WAC) 9.05% (K) Weighted Average Remaining Term of Remaining Portfolio (WAM) 25.58 month (L) Number of Contracts 22,119 (M) Letter of Credit Amount 16,028,260.87 C. INPUTS FROM THE MAINFRAME (A) Precomputed Contracts Principal (i) Scheduled Principal Collections $15,646,774.92 (ii) Prepayments in Full $7,383,929.29 (iii) Prepayments in Full Due to Repurchases $0.00 (B) Precomputed Contracts Total Collections $25,019,743.14 (C) Payment Advance $0.00 (i) Reimbursement of Previous Advances 1,356,688.27 (ii) Current Advance Amount 1,518,022.10 (D) Payahead Account 0.00 (i) Payments Applied 726,115.30 (ii) Additional Payaheads 970,156.78 (E) Weighted Average Coupon of Remaining Portfolio (WAC) 9.01% (F) Weighted Average Remaining Maturity of Remaining Portfolio (WAM) 23.15 month (G) Remaining Number of Contracts 19,871 (H) Delinquent Contracts Contracts Amount ------------------- -------------------------------- (i) 30-59 Days Delinquent 365 1.84% $2,468,758.00 2.31% (ii) 60-89 Days Delinquent 48 0.24% 259,725.00 0.24% (iii) 90 Days or More Delinquent 20 0.10% 175,368.00 0.16% D. INPUTS DERIVED FROM OTHER SOURCES (A) Collection Account Investment Income -- Paid to Servicer $0.00 (B) Reserve Fund Investment Income -- Paid to Seller $83,003.56 (C) Aggregate Net Losses for Collection Period 12,038.61 (D) Liquidated Contracts (i) Gross Principal Balance of Liquidated Receivables 458,692.44 (ii) Net Liquidation Proceeds Received During the Collection Period 279,625.06 (iii) Recoveries on Previously Liquidated Contracts 167,028.77 (E) Number of Vehicles Repossessed During the Collection Period 35 EXHIBIT 99 AMERICAN HONDA FINANCE CORPORATION QUARTERLY SERVICER REPORT -- Honda Auto Receivables 1994-A Grantor Trust April 1, 1996 through June 30, 1996 I. COLLECTIONS (A) Principal Payments Received (C(A)i-iii) $23,030,704.21 (B) Interest Payments Received (C(B)-(C(A)i-iii)) 1,989,038.93 (C) Aggregate Net Liquidation Proceeds Received (D(D)ii+iii) 446,653.83 (D) Principal on Repurchased Contracts (C(A)iv) 0.00 (E) Total Collections (Amount deposited to Certificate Account) (A+B+C+D) $25,466,396.97 II. DISTRIBUTIONS (A) Principal Payments Received (I(A)) $23,030,704.21 (B) Principal on Repurchased Contracts (I(D)) 0.00 (C) Gross Principal Balance of Liquidated Receivables (D(D)i) 458,692.44 (D) Total Principal Reduction (A+B+C) $23,489,396.65 (E) Class A Distributable Amount (i) Class A Quarterly Interest Payment (A(D)*B(C)) $1,361,665.11 (ii) Quarterly Principal to Class A (II(D)*A(B)) 21,786,415.39 (iii) Total Distributable Amount (i+ii) $23,148,080.50 (F) Class B Distributable Amount (i) Class B Quarterly Interest Payment (A(F)*B(E)) $106,437.44 (ii) Quarterly Principal to Class B (II(D)-(E)ii) 1,702,981.26 (iii) Total Class B Distributable Amount (i+ii) $1,809,418.70 (G) Required Distributions (i) Servicing Fee (A(G)*B(A)) $305,854.70 (ii) Class A Distributable Amount (II(E)iii) 23,148,080.50 (iii) Class B Distributable Amount (II(F)iii) 1,809,418.70 (iv) Deposit to Reserve Fund (If Positive (IV(G)-(A))) 0.00 (v) Residual Releases to Seller (IV(F)) 203,043.07 (vi) Total Amount Distributed (i+ii+iii+iv+v) $25,466,396.97 (H) Amount of Draw from Reserve Fund (IV(B)) $0.00 (I) Sum of Draw from Reserve Fund and Total Collection (I(E)+IV(B)) 25,466,396.97 III. POOL BALANCES AND PORTFOLIO INFORMATION Beginning End of Period of Period (A) Balances and Principal Factors (i) Total Pool Balance $130,581,262.37 $107,091,865.72 (ii) Total Pool Factor 0.2996256 0.2457280 (iii) Class A Certificate Balance $121,114,120.85 $99,327,705.46 (iv) Class A Principal Factor 0.2996256 0.2457280 (v) Class B Certificate Balance $9,467,141.52 $7,764,160.26 (B) Portfolio Information (i) Weighted Average Coupon (WAC) 9.05% 9.01% (ii) Weighted Average Remaining Maturity (WAM) 25.58 months 23.15 months (iii) Remaining Number of Contracts 22,119 19,871 (C) Outstanding Interest Advance $1,583,665.15 $1,744,998.98 EXHIBIT 99 AMERICAN HONDA FINANCE CORPORATION QUARTERLY SERVICER REPORT -- Honda Auto Receivables 1994-A Grantor Trust April 1, 1996 through June 30, 1996 IV. RECONCILIATION OF RESERVE FUND (A) Beginning Reserve Fund Balance (B(F)) $6,537,221.00 (B) Draw for Class A and Class B Distributable Amount 0.00 (If Positive ((II(E)iii+(G)i)-I(E)) (C) Amount Available for Deposit to the Reserve Fund 203,043.07 (If Positive (I(E)-(II(E)iii+II(G)i+II(F)iii))) (D) Reserve Fund Balance Prior to Release (IV(A-B+C)) $6,740,264.07 (E) Reserve Fund Required Amount (Was Trigger or Floor Hit?) $6,537,221.00 (F) Residual Releases from Reserve Fund (If Positive (D-E)) 203,043.07 (G) Ending Reserve Fund Balance (D-F) 6,537,221.00 V. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY (A) Liquidated Contracts (i) Gross Principal Balance of Liquidated Receivables (D(D)i) $458,692.44 (ii) Net Liquidation Proceeds Received During the Collection Period (D(D)ii 279,625.06 (iii) Recoveries on Previously Liquidated Contracts (D(D)iii) 167,028.77 (B) Aggregate Net Losses for Collection Period (V(A)i-ii-iii) 12,038.61 (C) Cumulative Net Losses for all Periods (V(B)+B(I)) 1,895,983.55 (D) Delinquent and Repossessed Contracts Contracts Amount ------------------- ------------------------------ (i) 30-59 Days Delinquent 365 1.84% $2,468,758.00 2.31% (ii) 60-89 Days Delinquent 48 0.24% 259,725.00 0.24% (iii) 90 Days or More Delinquent 20 0.10% 175,368.00 0.16% (iv) Vehicles Repossessed During the Collection Perio 35 0.16% $277,092.52 0.26% (v) Total Accumulated Repossessed and in inventory 31 0.14% 0.22% VI. TESTS FOR INCREASE IN RESERVE FUND BALANCE (A) Ratio of Net Losses to the Pool Balance as of Each Collection Period. (i) Second Preceeding Collection Period 0.05% (ii) Preceeding Collection Period -0.20% (iii) Current Collection Period 0.28% (iv) Three Month Average (Avg(i,ii,iii)) 0.05% (B) Ratio of Number of Contracts Delinquent 60 Days or More and Accumulated Repossessed in inventory to the Outstanding Number of Receivables as of Each Collection Period. (i) Second Preceeding Collection Period 0.34% (ii) Preceeding Collection Period 0.41% (iii) Current Collection Period 0.50% (iv) Three Month Average (Avg(i,ii,iii)) 0.42% (C) Loss and Delinquency Trigger Indicator Trigger Was Not Hit VII. LETTER OF CREDIT SUMMARY (A) Original Letter of Credit Amount (A(L)) 30,000,000.00 (B) Reset Percentage (# of conts end of perd/basis #) (III(B)iii) / (A(M)) 48.00% (C) Less Draws - (D) Balance End of Period (VII(A) * VII(B))-(VII(C)) 14,399,275.36 (E) L/C Bal as Percentage of Pool Bal at End of Period (VII(D) / III(A)i) 13.4457% I hereby certify that the servicing report provided is true and accurate to the best of my knowledge. By: /s/ John Weisickle John Weisickle, Vice President / Finance EXHIBIT 99
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