...OVERVIEW + NextGear Floorplan Master Owner Trust (series 2019-1)'s note issuance is an ABS transaction backed by two revolving pools of receivables and related assets. + We assigned our ratings to the class A-1, A-2 and B notes. + The 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) March 13, 2019--S&P Global Ratings today assigned its ratings to NextGear Floorplan Master Owner Trust's asset-backed notes series 2019-1 (see list). The note issuance is an asset-backed securities (ABS) transaction backed by two revolving pools of receivables and related assets (asset groups 1 and 2). Asset group 1 consists of dealer floorplan receivables to primarily independent auto dealers and, to a lesser extent, franchised auto dealers secured by the dealers' inventory of new and used automobiles and light-duty trucks, and related assets. Asset group 2 consists primarily...
