...Analysis of Franchise Loan ABS: This surveillance criteria report describes Fitch Ratings' criteria and approach to analyzing franchise loan ABS transactions issued in the U.S. Fitch considers both the quantitative and qualitative factors listed in this criteria report when reviewing ratings of franchise loan ABS. Deviations from Criteria: In certain cases, such as data limitations, assumptions used in the rating process may be modified or supplemented as Fitch deems appropriate. Deviations from criteria will be disclosed in the applicable transaction rating report. This criteria report replaces the report of the same title dated May 8, 2013. The updated criteria report is substantially similar to the prior one, with only minor changes. Fitch does not expect any impact on existing ratings as a result of the updated criteria....
