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. NEW YORK (S&P Global Ratings) Oct. 3, 2018--S&P Global Ratings today assigned its preliminary ratings to NextGear Floorplan Master Owner Trust's asset-backed notes series 2018-2 (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 Oct. 3, 2018. Subsequent information may result in the
