FIP Master Funding I-IV And VI LLC (Series 2023-1) Notes Assigned 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 final ratings to the class A-1 and A-2 notes. The final 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 23, 2023--S&P Global Ratings today assigned its final ratings to FIP Master Funding I-IV And VI LLC's net least 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 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 final ratings to the class A-1 and A-2 notes. - The final 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 23, 2023--S&P Global Ratings today assigned its final ratings to FIP Master Funding I-IV And VI LLC's net least 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 ratings reflect: - The credit enhancement available in the form of overcollateralization (the aggregate appraised value minus the aggregate series' principal balance) and subordination for the class A-1; - The available...

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