...- NextGear Floorplan Master Owner Trust's issuance is an ABS transaction backed by a revolving pool of receivables and related assets divided into two asset groups. Asset group 1 consists of dealer floorplan receivables to primarily independent auto dealers that are secured by the dealers' inventory of new and used automobiles, light-duty trucks, and related assets. Asset group 2 consists primarily of receivables secured by the dealers' inventory of salvage vehicles, heavy-duty trucks, rental vehicles, motorcycles, all-terrain vehicles, and other vehicles and related assets. - We assigned our ratings to the series 2025-1 class A and B notes. - The ratings reflect our view of the transaction's credit support, portfolio's credit quality, and underlying payment structure, legal structure, and cash flow mechanics, among other factors. NEW YORK (S&P Global Ratings) March 11, 2025--S&P Global Ratings today assigned its '### (sf)' rating to the $300.000 million class A notes from NextGear Floorplan...
