NextGear Floorplan Master Owner Trust's $492.018 Million Asset-Backed Notes Series 2016-1 Assigned Ratings

OVERVIEW NextGear Floorplan Master Owner Trust's issuance is an ABS securitization backed by two revolving pools of auto 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 hard credit support, the collateral portfolio's credit quality, and NextGear Capital Inc.'s servicing experience, among other factors. NEW YORK (Standard&Poor's) April 28, 2016--Standard&Poor's Ratings Services today assigned its ratings to NextGear Floorplan Master Owner Trust's $492.018 million asset-backed notes series 2016-1 (see list). The note issuance is an ABS securitization backed by two revolving pools of receivables and related assets (Asset Groups 1 and 2). Asset Group 1 consists of dealer floorplan receivables to

...OVERVIEW + NextGear Floorplan Master Owner Trust's issuance is an ABS securitization backed by two revolving pools of auto 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 hard credit support, the collateral portfolio's credit quality, and NextGear Capital Inc.'s servicing experience, among other factors. NEW YORK (Standard & Poor's) April 28, 2016--Standard & Poor's Ratings Services today assigned its ratings to NextGear Floorplan Master Owner Trust's $492.018 million asset-backed notes series 2016-1 (see list). The note issuance is an ABS securitization 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 secured by the dealer's inventory of used automobiles and light-duty trucks and related assets. Asset Group 2 consists primarily of receivables secured by the dealer's...

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