OVERVIEW NextGear Floorplan Master Owner Trust's issuance is an ABS transaction backed by two revolving pools of receivables and related assets. We assigned our preliminary ratings to the class A-1/A-2 and B notes. The preliminary ratings reflect our view of the transaction's credit support, underlying payment structure, legal structure, and cash flow mechanics, among other factors. SAN FRANCISCO (S&P Global Ratings) March 1, 2018--S&P Global Ratings today assigned its preliminary ratings to NextGear Floorplan Master Owner Trust's $437.35 million asset-backed notes series 2018-1 (see list). The note issuance is an asset-backed securities transaction backed by two revolving pools of receivables and related assets. The preliminary ratings are based on information as of March 1, 2018. Subsequent information may result in
