FIP Master Funding I-IV And VI LLC Series 2023-1 Notes Assigned Preliminary Ratings

FIP Master Funding I-IV And VI LLC's issuance is an ABS transaction backed by 185 commercial real estate properties, including related rents due under triple-net lease contracts with the properties' tenants. We assigned our preliminary ratings to the class A-1 and A-2 notes. The preliminary ratings reflect our view of the transaction's credit enhancement, available cushion, and operational risk assessment, among other factors. NEW YORK (S&P Global Ratings) March 8, 2023--S&P Global Ratings today assigned its preliminary ratings to FIP Master Funding I-IV And VI LLC's series 2023-1 net lease mortgage notes (see list). The note issuance is an ABS transaction backed by 185 commercial real estate properties, including related rents due under triple-net lease contracts with the properties' tenants.

...- FIP Master Funding I-IV And VI LLC's issuance is an ABS transaction backed by 185 commercial real estate properties, including related rents due under triple-net lease contracts with the properties' tenants. - We assigned our preliminary ratings to the class A-1 and A-2 notes. - The preliminary ratings reflect our view of the transaction's credit enhancement, available cushion, and operational risk assessment, among other factors. NEW YORK (S&P Global Ratings) March 8, 2023--S&P Global Ratings today assigned its preliminary ratings to FIP Master Funding I-IV And VI LLC's series 2023-1 net lease mortgage notes (see list). The note issuance is an ABS transaction backed by 185 commercial real estate properties, including related rents due under triple-net lease contracts with the properties' tenants. The preliminary ratings are based on information as of March 8, 2023. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings. The preliminary...

Ratings Action