Lendmark Funding Trust 2025-1's issuance is an ABS transaction backed by personal consumer loan receivables. We assigned our preliminary ratings to the class A, B, C, D, and E notes. The preliminary ratings reflect our view of the transaction's credit enhancement and payment and legal structures, among other factors. NEW YORK (S&P Global Ratings) May 12, 2025--S&P Global Ratings today assigned its preliminary ratings to Lendmark Funding Trust 2025-1's personal consumer loan-backed notes (see list). The note issuance is an ABS transaction backed by personal consumer loan receivables. The preliminary ratings are based on information as of May 12, 2025. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings. The preliminary ratings reflect
