S&P rates Triad Financial notes B-

Standard & Poor's said it assigned its B long-term counterparty credit rating to Triad Financial Corp.

Concurrently, a B- senior unsecured debt rating was assigned to Triad's $200 million senior notes due 2013. The outlook is stable.

The debt issue will be used to purchase Triad Financial from the Ford Motor Credit Corp.

S&P said the ratings reflect Triad's dependence on securitization for funding, lack of a track record as an independent entity and concentration in the cyclical subprime auto market.

Strong industry experience among management and improving financial performance support the ratings, according to S&P.

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