NextGear Floorplan Master Owner Trust Series 2021-1 Notes Assigned Ratings

NextGear Floorplan Master Owner Trust's series 2021-1's issuance is an ABS transaction backed by two revolving pools of receivables and related assets. We assigned our ratings to the class A and B notes. The ratings reflect our view of the transaction's underlying payment and legal structures, and cash flow mechanics, our expectation of the timely payments of periodic interest and principal, and our view of the collateral portfolio's credit quality, among other factors. NEW YORK (S&P Global Ratings) July 21, 2021--S&P Global Ratings today assigned its ratings to NextGear Floorplan Master Owner Trust's series 2021-1's asset-backed notes (see list). The note issuance is an ABS transaction backed by two revolving pools of receivables and related assets (asset groups 1 and

...- NextGear Floorplan Master Owner Trust's series 2021-1's issuance is an ABS transaction backed by two revolving pools of receivables and related assets. - We assigned our ratings to the class A and B notes. - The ratings reflect our view of the transaction's underlying payment and legal structures, and cash flow mechanics, our expectation of the timely payments of periodic interest and principal, and our view of the collateral portfolio's credit quality, among other factors. NEW YORK (S&P Global Ratings) July 21, 2021--S&P Global Ratings today assigned its ratings to NextGear Floorplan Master Owner Trust's series 2021-1's asset-backed notes (see list). The note issuance is an 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...

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