FOCUS Brands Funding LLC Notes Series 2018-1 Assigned Rating; Ratings On Series 2017-1 Affirmed

OVERVIEW FOCUS Brands Funding LLC's series 2018-1 issuance is an ABS transaction backed by existing and future franchise agreements; related franchisee royalties and fees, royalties on existing and future company-owned restaurants; licensing revenue; vendor payments (excluding Jamba Juice); and existing and future intellectual property. We assigned a rating to the class A-2 notes. At the same time, we affirmed our ratings on the class A-1 VFN, A-2-I, and A-2-II senior notes from series 2017-1. The rating actions reflect our view of the transactions' brand strength, legal isolation of the assets, and liquidity, among other factors. NEW YORK (S&P Global Ratings) Oct. 29, 2018--S&P Global Ratings today assigned its 'BBB (sf)' rating to FOCUS Brands Funding LLC's series 2018-1 senior secured

...OVERVIEW + FOCUS Brands Funding LLC's series 2018-1 issuance is an ABS transaction backed by existing and future franchise agreements; related franchisee royalties and fees, royalties on existing and future company-owned restaurants; licensing revenue; vendor payments (excluding Jamba Juice); and existing and future intellectual property. + We assigned a rating to the class A-2 notes. + At the same time, we affirmed our ratings on the class A-1 VFN, A-2-I, and A-2-II senior notes from series 2017-1. + The rating actions reflect our view of the transactions' brand strength, legal isolation of the assets, and liquidity, among other factors. NEW YORK (S&P Global Ratings) Oct. 29, 2018--S&P Global Ratings today assigned its '### (sf)' rating to FOCUS Brands Funding LLC's series 2018-1 senior secured class A-2 notes. We also affirmed our ratings from series 2017-1 (see list)....

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