NextGear Floorplan Master Owner Trust $433.333 Million Series 2015-2 Notes Assigned Ratings

OVERVIEW NextGear Floorplan Master Owner Trust's issuance is an ABS transaction backed by two revolving pools of receivables and related assets consisting of new and used automobiles and other vehicles. We assigned our ratings to the class A and B notes. The ratings reflect our view of the transaction's hard credit support, credit quality, and underlying payment structure, among other factors. NEW YORK (Standard&Poor's) Oct. 29, 2015--Standard&Poor's Ratings Services today assigned its ratings to NextGear Floorplan Master Owner Trust's $433.333 million asset-backed notes series 2015-2 (see list). The note issuance is an ABS transaction backed by two revolving pools of receivables and related assets consisting of new and used automobiles and other vehicles. The ratings reflect:

...OVERVIEW + NextGear Floorplan Master Owner Trust's issuance is an ABS transaction backed by two revolving pools of receivables and related assets consisting of new and used automobiles and other vehicles. + We assigned our ratings to the class A and B notes. + The ratings reflect our view of the transaction's hard credit support, credit quality, and underlying payment structure, among other factors. NEW YORK (Standard & Poor's) Oct. 29, 2015--Standard & Poor's Ratings Services today assigned its ratings to NextGear Floorplan Master Owner Trust's $433.333 million asset-backed notes series 2015-2 (see list). The note issuance is an ABS transaction backed by two revolving pools of receivables and related assets consisting of new and used automobiles and other vehicles. The ratings reflect: + Our view that the 17.00% hard credit support (expressed as a percentage of the collateral amount) for the class A notes is sufficient to withstand our stress scenario commensurate with the assigned '###...

Ratings Action