...OVERVIEW + NextGear Floorplan Master Owner Trust's issuance is an ABS transaction backed by two revolving pools of auto receivables and related assets. + We assigned our ratings to the class A-1, A-2, B-1, and B-2 notes. + The ratings reflect our view of the transaction's hard credit support, the collateral portfolio's credit quality, and NextGear Capital Inc.'s servicing experience, among other factors. NEW YORK (S&P Global Ratings) Oct. 12, 2016--S&P Global Ratings today assigned its ratings to NextGear Floorplan Master Owner Trust's $437.350 million asset-backed notes series 2016-2 (see list). The note issuance is an asset-backed securities 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 dealer's inventory of new and used automobiles and light-duty trucks and related assets. Asset...
