2008-08-01 23:53:03 -

- Fitch affirms the ratings of the HSBC Automotive Trust 2006-1 asset-backed notes as follows:

--Class A-3 at 'AAA';

--Class A-4 at 'AAA'.

The collateral continues to perform within Fitch's expectations and, under the credit enhancement structure, the securities can withstand stress scenarios consistent with the ratings and still make full payments to investors in accordance with

the terms of the documents. As before, the ratings reflect the available credit enhancement, the transaction's sound legal structure, and the capabilities of HSBC Finance Corporation as servicer and HSBC Auto Finance Inc. as subservicer.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site

Fitch Ratings
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