Timeshare Blog Updated and Redesigned on SellingTimeshares.Net Website

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Selling Timeshares, Inc. Logo

Selling Timeshares, Inc. Logo

With the steps being taken now, our clients will be empowered with the knowledge to take the vacations they never thought were possible.

Alameda, CA (PRWEB) July 28, 2014

Selling Timeshares, Inc., a licensed real estate brokerage that specializes in Hilton and Marriott resale, has recently updated their website as well as timeshare blog. The site’s timeshare blog has been updated with useful information about the timeshare industry, insider travel tips, and much more.

The blog will continue to feature reviews for the many timeshare resorts for sale on their website, helpful tips on selling, buying and owning timeshares, travel info and articles and the latest scoop on some of the biggest resorts all over the world.

Seth Nock, the owner and president of Selling Timeshares, Inc., was quoted saying, “The blog will allow travelers to become better aware of the most high-end timeshare ownerships and how to book their best possible vacations.”

The blog is a compliment to Selling Timeshares, Inc.’s new website which offers a brand new resort directory, as well as a new, more intuitive look and feel for the listings section of the site. The entire website has recently been overhauled to provide a better experience for clients that are looking for Hilton, Marriott, Disney, WorldMark by Wyndham, Fairfield by Wyndham, Royal Resorts or many other types of resale timeshare properties on the secondary market.

The company’s timeshare blog can be viewed at the following link: http://www.sellingtimeshares.net/category/articles/.

With the flexibility offered by today’s point-based timeshares, consumers have more choices than ever, but this can lead to confusion on what locations are the best, and what amenities are offered.

The goal is to add to their clients’ experience of selling or buying a resale timeshare. To continue educating the client regarding the different properties that are offered on the resale market, what makes the properties unique and what a buyer can expect once you’re there, without having to pick up the phone.

David Van Norman, licensed agent and head of web development for Selling Timeshares, Inc. said, “…the customer should be able to get the information needed at a quick glance. With the steps being taken now, our clients will be empowered with the knowledge to take the vacations they never thought were possible.”

The company will also be adding articles on travel tips, new attractions and points of interest in and around the areas where travelers go to most.

Selling Timeshares, Inc. has officially invited the industry to continue checking the blog for any specials, or last minute deals that pop up. Plus as an added bonus, they have announced that they will be doing contests and giveaways for vacation packages in resorts across the globe.

About Selling Timeshares, Inc.

Selling Timeshares is comprised of a group of Licensed Real Estate Professionals with years of knowledge of the most valuable vacation networks offered in today’s market. They are a full service timeshare resale brokerage that does not charge an upfront fee to sell.

Follow them on Twitter @sellngtmshrsINC

.

Like them @ facebook.com/sellingtimesharesinc.

Email a friend


PDF


Print

Article source: http://www.prweb.com/releases/timeshare-blog-updated/resale-learn-tips-tricks/prweb12016949.htm

Timeshare Blog Updated and Redesigned on SellingTimeshares.Net Website

  • Email a friend


Selling Timeshares, Inc. Logo

Selling Timeshares, Inc. Logo

With the steps being taken now, our clients will be empowered with the knowledge to take the vacations they never thought were possible.

Alameda, CA (PRWEB) July 28, 2014

Selling Timeshares, Inc., a licensed real estate brokerage that specializes in Hilton and Marriott resale, has recently updated their website as well as timeshare blog. The site’s timeshare blog has been updated with useful information about the timeshare industry, insider travel tips, and much more.

The blog will continue to feature reviews for the many timeshare resorts for sale on their website, helpful tips on selling, buying and owning timeshares, travel info and articles and the latest scoop on some of the biggest resorts all over the world.

Seth Nock, the owner and president of Selling Timeshares, Inc., was quoted saying, “The blog will allow travelers to become better aware of the most high-end timeshare ownerships and how to book their best possible vacations.”

The blog is a compliment to Selling Timeshares, Inc.’s new website which offers a brand new resort directory, as well as a new, more intuitive look and feel for the listings section of the site. The entire website has recently been overhauled to provide a better experience for clients that are looking for Hilton, Marriott, Disney, WorldMark by Wyndham, Fairfield by Wyndham, Royal Resorts or many other types of resale timeshare properties on the secondary market.

The company’s timeshare blog can be viewed at the following link: http://www.sellingtimeshares.net/category/articles/.

With the flexibility offered by today’s point-based timeshares, consumers have more choices than ever, but this can lead to confusion on what locations are the best, and what amenities are offered.

The goal is to add to their clients’ experience of selling or buying a resale timeshare. To continue educating the client regarding the different properties that are offered on the resale market, what makes the properties unique and what a buyer can expect once you’re there, without having to pick up the phone.

David Van Norman, licensed agent and head of web development for Selling Timeshares, Inc. said, “…the customer should be able to get the information needed at a quick glance. With the steps being taken now, our clients will be empowered with the knowledge to take the vacations they never thought were possible.”

The company will also be adding articles on travel tips, new attractions and points of interest in and around the areas where travelers go to most.

Selling Timeshares, Inc. has officially invited the industry to continue checking the blog for any specials, or last minute deals that pop up. Plus as an added bonus, they have announced that they will be doing contests and giveaways for vacation packages in resorts across the globe.

About Selling Timeshares, Inc.

Selling Timeshares is comprised of a group of Licensed Real Estate Professionals with years of knowledge of the most valuable vacation networks offered in today’s market. They are a full service timeshare resale brokerage that does not charge an upfront fee to sell.

Follow them on Twitter @sellngtmshrsINC

.

Like them @ facebook.com/sellingtimesharesinc.

Email a friend


PDF


Print

Article source: http://www.prweb.com/releases/timeshare-blog-updated/resale-learn-tips-tricks/prweb12016949.htm

Timeshare Blog Updated and Redesigned on SellingTimeshares.Net Website

  • Email a friend


Selling Timeshares, Inc. Logo

Selling Timeshares, Inc. Logo

With the steps being taken now, our clients will be empowered with the knowledge to take the vacations they never thought were possible.

Alameda, CA (PRWEB) July 28, 2014

Selling Timeshares, Inc., a licensed real estate brokerage that specializes in Hilton and Marriott resale, has recently updated their website as well as timeshare blog. The site’s timeshare blog has been updated with useful information about the timeshare industry, insider travel tips, and much more.

The blog will continue to feature reviews for the many timeshare resorts for sale on their website, helpful tips on selling, buying and owning timeshares, travel info and articles and the latest scoop on some of the biggest resorts all over the world.

Seth Nock, the owner and president of Selling Timeshares, Inc., was quoted saying, “The blog will allow travelers to become better aware of the most high-end timeshare ownerships and how to book their best possible vacations.”

The blog is a compliment to Selling Timeshares, Inc.’s new website which offers a brand new resort directory, as well as a new, more intuitive look and feel for the listings section of the site. The entire website has recently been overhauled to provide a better experience for clients that are looking for Hilton, Marriott, Disney, WorldMark by Wyndham, Fairfield by Wyndham, Royal Resorts or many other types of resale timeshare properties on the secondary market.

The company’s timeshare blog can be viewed at the following link: http://www.sellingtimeshares.net/category/articles/.

With the flexibility offered by today’s point-based timeshares, consumers have more choices than ever, but this can lead to confusion on what locations are the best, and what amenities are offered.

The goal is to add to their clients’ experience of selling or buying a resale timeshare. To continue educating the client regarding the different properties that are offered on the resale market, what makes the properties unique and what a buyer can expect once you’re there, without having to pick up the phone.

David Van Norman, licensed agent and head of web development for Selling Timeshares, Inc. said, “…the customer should be able to get the information needed at a quick glance. With the steps being taken now, our clients will be empowered with the knowledge to take the vacations they never thought were possible.”

The company will also be adding articles on travel tips, new attractions and points of interest in and around the areas where travelers go to most.

Selling Timeshares, Inc. has officially invited the industry to continue checking the blog for any specials, or last minute deals that pop up. Plus as an added bonus, they have announced that they will be doing contests and giveaways for vacation packages in resorts across the globe.

About Selling Timeshares, Inc.

Selling Timeshares is comprised of a group of Licensed Real Estate Professionals with years of knowledge of the most valuable vacation networks offered in today’s market. They are a full service timeshare resale brokerage that does not charge an upfront fee to sell.

Follow them on Twitter @sellngtmshrsINC

.

Like them @ facebook.com/sellingtimesharesinc.

Email a friend


PDF


Print

Article source: http://www.prweb.com/releases/timeshare-blog-updated/resale-learn-tips-tricks/prweb12016949.htm

Tom Kelly: Market for timeshare resales grows worse through years

My wife and I purchased a timeshare 20 years ago. We looked forward to using the variety of resorts offered by the program but could never make it work.

Schedules of four busy children and two working spouses simply did not allow us enough lead time to book a large unit during the weeks we could actually get away. We sold it three years later after never using it and felt lucky to get as much cash back as we did.

And, although the Internet is now able to reach immeasurably more potential buyers, there remains a glut of resale timeshares that sell for pennies on the dollar. The market for them is small. While there is a select group of bargain-basement shoppers, rising annual maintenance fees make resale even more difficult. In fact, the Internet probably would have reduced the price we eventually received because of the ability of a potential buyer to view and bargain with others like us with units for sale.

Trevor Hein of The Timeshare Exit Team said our experience would never happen today for just that reason.

“Timeshares are selling for $1 on Ebay,” Hein said. “While a few of them like Marriott and Disney do have value, many people have to pay out of pocket just to get rid of them. Most people are far better off putting the money they would have spent on a timeshare in the bank and staying in the hotel of their choice at the exact time they want to go.”

Here’s what happened in our case. While the years have changed, the resale market has not.

The company that sold us our $11,000 timeshare said it would “help us sell” our stake if there ever came a time when we decided timesharing was not for us. It turned out that “help us sell” meant providing a short list of companies specializing in the field of timeshare resales. I checked with the state Department of Licensing, and it suggested I attempt to sell the timeshare myself before listing with a resale company. (Remember, this is before Internet marketing became common.)

I tried two newspaper ads for two different Thursday-through-Sunday slots and drew two calls. I then exposed the timeshare one weekend in three different papers and received no replies.

I called former customers of two timeshare resale companies and got mixed responses. I chose a San Diego-area company that guaranteed a refund of my $445 upfront fee if the timeshare were sold outside of its own marketing efforts, which consisted mainly of newspaper ads and late-night cable television spots.

I sent in my $445 in April listing the timeshare for $1,000 less than I paid for it (in addition to three “banked” weeks we did not use). The price came at the suggestion of the agent who said “you definitely have to be competitive.”

I got no response for three months and called the company asking about possible inquiries. A few weeks later, I got a list of four “potential buyers to date that have shown an interest” and their hometowns. One woman, in Wheelersburg, Ohio, had queried twice. I attempted to telephone her to ascertain her interest and found there was no woman listed at that address.

In December, I lowered the asking price to $9,000. I got a call from a Langley, British Columbia, man who decided to pass on my timeshare. In March, I took out another newspaper ad and quickly got two serious buyers. We sold the annual week plus the “banked” weeks we did not use for a total of $9,000 – and felt lucky to get it.

The deal closed two weeks later, and after pestering the condo resale company for weeks to refund my $445, I got the refund in May, 13 months after listing with it. I had to send them copies of closing documents, copies of the newspaper ad and the bill for the ad before they would even consider the refund.

Still, I considered myself lucky – luckier than most.

Tom Kelly has been a professional journalist for 36 years. He served the Seattle Times for 20 years, many as real estate editor.

Article source: http://www.spokesman.com/stories/2014/jul/27/tom-kelly-market-for-timeshare-resales-grows/

Tom Kelly: Market for timeshare resales grows worse through years

My wife and I purchased a timeshare 20 years ago. We looked forward to using the variety of resorts offered by the program but could never make it work.

Schedules of four busy children and two working spouses simply did not allow us enough lead time to book a large unit during the weeks we could actually get away. We sold it three years later after never using it and felt lucky to get as much cash back as we did.

And, although the Internet is now able to reach immeasurably more potential buyers, there remains a glut of resale timeshares that sell for pennies on the dollar. The market for them is small. While there is a select group of bargain-basement shoppers, rising annual maintenance fees make resale even more difficult. In fact, the Internet probably would have reduced the price we eventually received because of the ability of a potential buyer to view and bargain with others like us with units for sale.

Trevor Hein of The Timeshare Exit Team said our experience would never happen today for just that reason.

“Timeshares are selling for $1 on Ebay,” Hein said. “While a few of them like Marriott and Disney do have value, many people have to pay out of pocket just to get rid of them. Most people are far better off putting the money they would have spent on a timeshare in the bank and staying in the hotel of their choice at the exact time they want to go.”

Here’s what happened in our case. While the years have changed, the resale market has not.

The company that sold us our $11,000 timeshare said it would “help us sell” our stake if there ever came a time when we decided timesharing was not for us. It turned out that “help us sell” meant providing a short list of companies specializing in the field of timeshare resales. I checked with the state Department of Licensing, and it suggested I attempt to sell the timeshare myself before listing with a resale company. (Remember, this is before Internet marketing became common.)

I tried two newspaper ads for two different Thursday-through-Sunday slots and drew two calls. I then exposed the timeshare one weekend in three different papers and received no replies.

I called former customers of two timeshare resale companies and got mixed responses. I chose a San Diego-area company that guaranteed a refund of my $445 upfront fee if the timeshare were sold outside of its own marketing efforts, which consisted mainly of newspaper ads and late-night cable television spots.

I sent in my $445 in April listing the timeshare for $1,000 less than I paid for it (in addition to three “banked” weeks we did not use). The price came at the suggestion of the agent who said “you definitely have to be competitive.”

I got no response for three months and called the company asking about possible inquiries. A few weeks later, I got a list of four “potential buyers to date that have shown an interest” and their hometowns. One woman, in Wheelersburg, Ohio, had queried twice. I attempted to telephone her to ascertain her interest and found there was no woman listed at that address.

In December, I lowered the asking price to $9,000. I got a call from a Langley, British Columbia, man who decided to pass on my timeshare. In March, I took out another newspaper ad and quickly got two serious buyers. We sold the annual week plus the “banked” weeks we did not use for a total of $9,000 – and felt lucky to get it.

The deal closed two weeks later, and after pestering the condo resale company for weeks to refund my $445, I got the refund in May, 13 months after listing with it. I had to send them copies of closing documents, copies of the newspaper ad and the bill for the ad before they would even consider the refund.

Still, I considered myself lucky – luckier than most.

Tom Kelly has been a professional journalist for 36 years. He served the Seattle Times for 20 years, many as real estate editor.

Article source: http://www.spokesman.com/stories/2014/jul/27/tom-kelly-market-for-timeshare-resales-grows/

Fitch Rates Sierra Timeshare 2014-2 Receivables Funding LLC

NEW YORK–(BUSINESS WIRE)–

Fitch Ratings assigns the following ratings to Sierra Timeshare 2014-2 Receivables Funding LLC:

–$276,920,000 class A asset-backed notes ‘Asf’; Outlook Stable;

–$73,080,000 class B asset-backed notes ‘BBBsf’; Outlook Stable.

KEY RATING DRIVERS

Consistent Collateral: Series 2014-2 has a comparable concentration of WVRI and WRDC loans relative to the prior transaction. Fitch has determined that, on a like-for-like FICO basis, WRDC’s receivables perform better than those of WVRI. Additionally, 2014-2 includes 3.4% of Shell loans (integrated within the WVRI platform) for which historical static pool default data were not provided. An additive stress was incorporated into Fitch’s base case proxy for 2014-2 to account for the lack of performance data on this portion of the receivables.

Recent Stabilization in WVRI Performance: Similar to other timeshare originators, Wyndham Worldwide’s delinquency and default performance exhibited notable increases in the 2007-2008 vintages. However, WRDC’s performance has improved since 2009, while WVRI continues to experience high defaults. Nonetheless, the 2013 vintage within the WVRI portfolio demonstrates relative stabilization in default performance.

Sufficient CE Structure: Initial hard credit enhancement (CE) is expected to be 30.50% and 11.50% for class A and B notes, respectively. Hard CE is composed of overcollateralization (OC), a letter of credit (LOC) reserve account and subordination. Soft CE is also provided by excess spread and is expected to be 10.27% per annum.

Quality of Origination/Servicing: Wyndham Worldwide has demonstrated sufficient abilities as an originator and servicer of timeshare loans. This is evidenced by the historical delinquency and loss performance of securitized trusts and of the managed portfolio.

Legal Structure Integrity: The legal structure of the transaction should provide that a bankruptcy of Wyndham Worldwide and Wyndham Consumer Finance, Inc. (WCF) would not impair the timeliness of payments on the securities.

RATING SENSITIVITIES

Unanticipated increases in the frequency of defaults could produce cumulative gross default (CGD) levels higher than the base case and would likely result in declines of credit enhancement and remaining default coverage levels available to the notes. Additionally, unanticipated increases in prepayment activity could also result in a decline in coverage. Decreased default coverage may make certain note ratings susceptible to potential negative rating actions, depending on the extent of the decline in coverage.

Thus, Fitch conducts sensitivity analysis stressing both a transaction’s initial base case CGD and prepayment assumptions by 1.5x and 2.0x and examining the rating implications on all classes of issued notes. The 1.5x and 2.0x increases of the base case CGD and prepayment assumptions represent moderate and severe stresses, respectively, and are intended to provide an indication of the rating sensitivity of notes to unexpected deterioration of a trust’s performance.

Key Rating Drivers and Rating Sensitivities are further described in the presale report dated July 1, 2014. Fitch’s analysis of the Representations and Warranties (RW) of this transaction can be found in ‘Sierra Timeshare 2014-2 Receivables Funding LLC – Appendix’. These RWs are compared to those of typical RW for the asset class as detailed in the special report ‘Representations, Warranties, and Enforcement Mechanisms in Global Structured Finance Transactions’ dated April 17, 2012.

The presale report is available to all investors on Fitch’s website at ‘www.fitchratings.com‘. For more information about Fitch’s comprehensive subscription service FitchResearch, which includes all presale reports, surveillance, and credit reports on more than 20 asset classes, contact product sales at +1-212-908-0800 or at ‘webmaster@fitchratings.com’.

Additional information is available at ‘www.fitchratings.com‘.

Applicable Criteria and Related Research:

–’Sierra Timeshare 2014-2 Receivable Funding LLC’ (July 1, 2014);

–’Sierra Timeshare 2014-2 Receivable Funding LLC — Appendix’ (July 1, 2014);

–’Criteria for Rating U.S. Timeshare Loan ABS’ (June 9, 2014);

–’Global Structured Finance Rating Criteria’ (May 20, 2014);

–’Representations, Warranties, and Enforcement Mechanisms in Global Structured Finance Transactions’ (April 17, 2012).

Applicable Criteria and Related Research:

Sierra Timeshare 2014-2 Receivables Funding LLC (US ABS)

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=751407

Sierra Timeshare 2014-2 Receivables Funding LLC — Appendix

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=751647

Criteria for Rating U.S. Timeshare Loan ABS

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=749780

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=748821

Representations, Warranties, and Enforcement Mechanisms in Global Structured Finance Transactions

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=676496

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=839873

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY’S PUBLIC WEBSITE ‘WWW.FITCHRATINGS.COM‘. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH’S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE ‘CODE OF CONDUCT’ SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Contact:

Fitch Ratings, New York
Media Relations
Sandro Scenga, +1-212-908-0278
sandro.scenga@fitchratings.com
or
Primary Analyst
Senior Director
Du Trieu, +1-312-368-2091
or
Fitch Ratings, Inc.
70 W. Madison Street
Chicago, IL 60602
or
Secondary Analyst
Analyst
Khadija El Mediouri, +1-212-908-9109
or
Committee Chairperson
Senior Director
Brad Sohl, +1-212-908-0792

Article source: http://finance.yahoo.com/news/fitch-rates-sierra-timeshare-2014-182400091.html

Fitch Rates Sierra Timeshare 2014-2 Receivables Funding LLC

NEW YORK–(BUSINESS WIRE)–

Fitch Ratings assigns the following ratings to Sierra Timeshare 2014-2 Receivables Funding LLC:

–$276,920,000 class A asset-backed notes ‘Asf’; Outlook Stable;

–$73,080,000 class B asset-backed notes ‘BBBsf’; Outlook Stable.

KEY RATING DRIVERS

Consistent Collateral: Series 2014-2 has a comparable concentration of WVRI and WRDC loans relative to the prior transaction. Fitch has determined that, on a like-for-like FICO basis, WRDC’s receivables perform better than those of WVRI. Additionally, 2014-2 includes 3.4% of Shell loans (integrated within the WVRI platform) for which historical static pool default data were not provided. An additive stress was incorporated into Fitch’s base case proxy for 2014-2 to account for the lack of performance data on this portion of the receivables.

Recent Stabilization in WVRI Performance: Similar to other timeshare originators, Wyndham Worldwide’s delinquency and default performance exhibited notable increases in the 2007-2008 vintages. However, WRDC’s performance has improved since 2009, while WVRI continues to experience high defaults. Nonetheless, the 2013 vintage within the WVRI portfolio demonstrates relative stabilization in default performance.

Sufficient CE Structure: Initial hard credit enhancement (CE) is expected to be 30.50% and 11.50% for class A and B notes, respectively. Hard CE is composed of overcollateralization (OC), a letter of credit (LOC) reserve account and subordination. Soft CE is also provided by excess spread and is expected to be 10.27% per annum.

Quality of Origination/Servicing: Wyndham Worldwide has demonstrated sufficient abilities as an originator and servicer of timeshare loans. This is evidenced by the historical delinquency and loss performance of securitized trusts and of the managed portfolio.

Legal Structure Integrity: The legal structure of the transaction should provide that a bankruptcy of Wyndham Worldwide and Wyndham Consumer Finance, Inc. (WCF) would not impair the timeliness of payments on the securities.

RATING SENSITIVITIES

Unanticipated increases in the frequency of defaults could produce cumulative gross default (CGD) levels higher than the base case and would likely result in declines of credit enhancement and remaining default coverage levels available to the notes. Additionally, unanticipated increases in prepayment activity could also result in a decline in coverage. Decreased default coverage may make certain note ratings susceptible to potential negative rating actions, depending on the extent of the decline in coverage.

Thus, Fitch conducts sensitivity analysis stressing both a transaction’s initial base case CGD and prepayment assumptions by 1.5x and 2.0x and examining the rating implications on all classes of issued notes. The 1.5x and 2.0x increases of the base case CGD and prepayment assumptions represent moderate and severe stresses, respectively, and are intended to provide an indication of the rating sensitivity of notes to unexpected deterioration of a trust’s performance.

Key Rating Drivers and Rating Sensitivities are further described in the presale report dated July 1, 2014. Fitch’s analysis of the Representations and Warranties (RW) of this transaction can be found in ‘Sierra Timeshare 2014-2 Receivables Funding LLC – Appendix’. These RWs are compared to those of typical RW for the asset class as detailed in the special report ‘Representations, Warranties, and Enforcement Mechanisms in Global Structured Finance Transactions’ dated April 17, 2012.

The presale report is available to all investors on Fitch’s website at ‘www.fitchratings.com‘. For more information about Fitch’s comprehensive subscription service FitchResearch, which includes all presale reports, surveillance, and credit reports on more than 20 asset classes, contact product sales at +1-212-908-0800 or at ‘webmaster@fitchratings.com’.

Additional information is available at ‘www.fitchratings.com‘.

Applicable Criteria and Related Research:

–’Sierra Timeshare 2014-2 Receivable Funding LLC’ (July 1, 2014);

–’Sierra Timeshare 2014-2 Receivable Funding LLC — Appendix’ (July 1, 2014);

–’Criteria for Rating U.S. Timeshare Loan ABS’ (June 9, 2014);

–’Global Structured Finance Rating Criteria’ (May 20, 2014);

–’Representations, Warranties, and Enforcement Mechanisms in Global Structured Finance Transactions’ (April 17, 2012).

Applicable Criteria and Related Research:

Sierra Timeshare 2014-2 Receivables Funding LLC (US ABS)

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=751407

Sierra Timeshare 2014-2 Receivables Funding LLC — Appendix

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=751647

Criteria for Rating U.S. Timeshare Loan ABS

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=749780

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=748821

Representations, Warranties, and Enforcement Mechanisms in Global Structured Finance Transactions

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=676496

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=839873

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY’S PUBLIC WEBSITE ‘WWW.FITCHRATINGS.COM‘. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH’S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE ‘CODE OF CONDUCT’ SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Contact:

Fitch Ratings, New York
Media Relations
Sandro Scenga, +1-212-908-0278
sandro.scenga@fitchratings.com
or
Primary Analyst
Senior Director
Du Trieu, +1-312-368-2091
or
Fitch Ratings, Inc.
70 W. Madison Street
Chicago, IL 60602
or
Secondary Analyst
Analyst
Khadija El Mediouri, +1-212-908-9109
or
Committee Chairperson
Senior Director
Brad Sohl, +1-212-908-0792

Article source: http://finance.yahoo.com/news/fitch-rates-sierra-timeshare-2014-182400091.html

Fitch Rates Sierra Timeshare 2014-2 Receivables Funding LLC

NEW YORK–(BUSINESS WIRE)–

Fitch Ratings assigns the following ratings to Sierra Timeshare 2014-2 Receivables Funding LLC:

–$276,920,000 class A asset-backed notes ‘Asf’; Outlook Stable;

–$73,080,000 class B asset-backed notes ‘BBBsf’; Outlook Stable.

KEY RATING DRIVERS

Consistent Collateral: Series 2014-2 has a comparable concentration of WVRI and WRDC loans relative to the prior transaction. Fitch has determined that, on a like-for-like FICO basis, WRDC’s receivables perform better than those of WVRI. Additionally, 2014-2 includes 3.4% of Shell loans (integrated within the WVRI platform) for which historical static pool default data were not provided. An additive stress was incorporated into Fitch’s base case proxy for 2014-2 to account for the lack of performance data on this portion of the receivables.

Recent Stabilization in WVRI Performance: Similar to other timeshare originators, Wyndham Worldwide’s delinquency and default performance exhibited notable increases in the 2007-2008 vintages. However, WRDC’s performance has improved since 2009, while WVRI continues to experience high defaults. Nonetheless, the 2013 vintage within the WVRI portfolio demonstrates relative stabilization in default performance.

Sufficient CE Structure: Initial hard credit enhancement (CE) is expected to be 30.50% and 11.50% for class A and B notes, respectively. Hard CE is composed of overcollateralization (OC), a letter of credit (LOC) reserve account and subordination. Soft CE is also provided by excess spread and is expected to be 10.27% per annum.

Quality of Origination/Servicing: Wyndham Worldwide has demonstrated sufficient abilities as an originator and servicer of timeshare loans. This is evidenced by the historical delinquency and loss performance of securitized trusts and of the managed portfolio.

Legal Structure Integrity: The legal structure of the transaction should provide that a bankruptcy of Wyndham Worldwide and Wyndham Consumer Finance, Inc. (WCF) would not impair the timeliness of payments on the securities.

RATING SENSITIVITIES

Unanticipated increases in the frequency of defaults could produce cumulative gross default (CGD) levels higher than the base case and would likely result in declines of credit enhancement and remaining default coverage levels available to the notes. Additionally, unanticipated increases in prepayment activity could also result in a decline in coverage. Decreased default coverage may make certain note ratings susceptible to potential negative rating actions, depending on the extent of the decline in coverage.

Thus, Fitch conducts sensitivity analysis stressing both a transaction’s initial base case CGD and prepayment assumptions by 1.5x and 2.0x and examining the rating implications on all classes of issued notes. The 1.5x and 2.0x increases of the base case CGD and prepayment assumptions represent moderate and severe stresses, respectively, and are intended to provide an indication of the rating sensitivity of notes to unexpected deterioration of a trust’s performance.

Key Rating Drivers and Rating Sensitivities are further described in the presale report dated July 1, 2014. Fitch’s analysis of the Representations and Warranties (RW) of this transaction can be found in ‘Sierra Timeshare 2014-2 Receivables Funding LLC – Appendix’. These RWs are compared to those of typical RW for the asset class as detailed in the special report ‘Representations, Warranties, and Enforcement Mechanisms in Global Structured Finance Transactions’ dated April 17, 2012.

The presale report is available to all investors on Fitch’s website at ‘www.fitchratings.com‘. For more information about Fitch’s comprehensive subscription service FitchResearch, which includes all presale reports, surveillance, and credit reports on more than 20 asset classes, contact product sales at +1-212-908-0800 or at ‘webmaster@fitchratings.com’.

Additional information is available at ‘www.fitchratings.com‘.

Applicable Criteria and Related Research:

–’Sierra Timeshare 2014-2 Receivable Funding LLC’ (July 1, 2014);

–’Sierra Timeshare 2014-2 Receivable Funding LLC — Appendix’ (July 1, 2014);

–’Criteria for Rating U.S. Timeshare Loan ABS’ (June 9, 2014);

–’Global Structured Finance Rating Criteria’ (May 20, 2014);

–’Representations, Warranties, and Enforcement Mechanisms in Global Structured Finance Transactions’ (April 17, 2012).

Applicable Criteria and Related Research:

Sierra Timeshare 2014-2 Receivables Funding LLC (US ABS)

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=751407

Sierra Timeshare 2014-2 Receivables Funding LLC — Appendix

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=751647

Criteria for Rating U.S. Timeshare Loan ABS

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=749780

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=748821

Representations, Warranties, and Enforcement Mechanisms in Global Structured Finance Transactions

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=676496

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=839873

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY’S PUBLIC WEBSITE ‘WWW.FITCHRATINGS.COM‘. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH’S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE ‘CODE OF CONDUCT’ SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Contact:

Fitch Ratings, New York
Media Relations
Sandro Scenga, +1-212-908-0278
sandro.scenga@fitchratings.com
or
Primary Analyst
Senior Director
Du Trieu, +1-312-368-2091
or
Fitch Ratings, Inc.
70 W. Madison Street
Chicago, IL 60602
or
Secondary Analyst
Analyst
Khadija El Mediouri, +1-212-908-9109
or
Committee Chairperson
Senior Director
Brad Sohl, +1-212-908-0792

Article source: http://finance.yahoo.com/news/fitch-rates-sierra-timeshare-2014-182400091.html

Fitch Rates Sierra Timeshare 2014-2 Receivables Funding LLC

NEW YORK–(BUSINESS WIRE)–

Fitch Ratings assigns the following ratings to Sierra Timeshare 2014-2 Receivables Funding LLC:

–$276,920,000 class A asset-backed notes ‘Asf’; Outlook Stable;

–$73,080,000 class B asset-backed notes ‘BBBsf’; Outlook Stable.

KEY RATING DRIVERS

Consistent Collateral: Series 2014-2 has a comparable concentration of WVRI and WRDC loans relative to the prior transaction. Fitch has determined that, on a like-for-like FICO basis, WRDC’s receivables perform better than those of WVRI. Additionally, 2014-2 includes 3.4% of Shell loans (integrated within the WVRI platform) for which historical static pool default data were not provided. An additive stress was incorporated into Fitch’s base case proxy for 2014-2 to account for the lack of performance data on this portion of the receivables.

Recent Stabilization in WVRI Performance: Similar to other timeshare originators, Wyndham Worldwide’s delinquency and default performance exhibited notable increases in the 2007-2008 vintages. However, WRDC’s performance has improved since 2009, while WVRI continues to experience high defaults. Nonetheless, the 2013 vintage within the WVRI portfolio demonstrates relative stabilization in default performance.

Sufficient CE Structure: Initial hard credit enhancement (CE) is expected to be 30.50% and 11.50% for class A and B notes, respectively. Hard CE is composed of overcollateralization (OC), a letter of credit (LOC) reserve account and subordination. Soft CE is also provided by excess spread and is expected to be 10.27% per annum.

Quality of Origination/Servicing: Wyndham Worldwide has demonstrated sufficient abilities as an originator and servicer of timeshare loans. This is evidenced by the historical delinquency and loss performance of securitized trusts and of the managed portfolio.

Legal Structure Integrity: The legal structure of the transaction should provide that a bankruptcy of Wyndham Worldwide and Wyndham Consumer Finance, Inc. (WCF) would not impair the timeliness of payments on the securities.

RATING SENSITIVITIES

Unanticipated increases in the frequency of defaults could produce cumulative gross default (CGD) levels higher than the base case and would likely result in declines of credit enhancement and remaining default coverage levels available to the notes. Additionally, unanticipated increases in prepayment activity could also result in a decline in coverage. Decreased default coverage may make certain note ratings susceptible to potential negative rating actions, depending on the extent of the decline in coverage.

Thus, Fitch conducts sensitivity analysis stressing both a transaction’s initial base case CGD and prepayment assumptions by 1.5x and 2.0x and examining the rating implications on all classes of issued notes. The 1.5x and 2.0x increases of the base case CGD and prepayment assumptions represent moderate and severe stresses, respectively, and are intended to provide an indication of the rating sensitivity of notes to unexpected deterioration of a trust’s performance.

Key Rating Drivers and Rating Sensitivities are further described in the presale report dated July 1, 2014. Fitch’s analysis of the Representations and Warranties (RW) of this transaction can be found in ‘Sierra Timeshare 2014-2 Receivables Funding LLC – Appendix’. These RWs are compared to those of typical RW for the asset class as detailed in the special report ‘Representations, Warranties, and Enforcement Mechanisms in Global Structured Finance Transactions’ dated April 17, 2012.

The presale report is available to all investors on Fitch’s website at ‘www.fitchratings.com‘. For more information about Fitch’s comprehensive subscription service FitchResearch, which includes all presale reports, surveillance, and credit reports on more than 20 asset classes, contact product sales at +1-212-908-0800 or at ‘webmaster@fitchratings.com’.

Additional information is available at ‘www.fitchratings.com‘.

Applicable Criteria and Related Research:

–’Sierra Timeshare 2014-2 Receivable Funding LLC’ (July 1, 2014);

–’Sierra Timeshare 2014-2 Receivable Funding LLC — Appendix’ (July 1, 2014);

–’Criteria for Rating U.S. Timeshare Loan ABS’ (June 9, 2014);

–’Global Structured Finance Rating Criteria’ (May 20, 2014);

–’Representations, Warranties, and Enforcement Mechanisms in Global Structured Finance Transactions’ (April 17, 2012).

Applicable Criteria and Related Research:

Sierra Timeshare 2014-2 Receivables Funding LLC (US ABS)

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=751407

Sierra Timeshare 2014-2 Receivables Funding LLC — Appendix

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=751647

Criteria for Rating U.S. Timeshare Loan ABS

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=749780

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=748821

Representations, Warranties, and Enforcement Mechanisms in Global Structured Finance Transactions

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=676496

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=839873

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY’S PUBLIC WEBSITE ‘WWW.FITCHRATINGS.COM‘. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH’S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE ‘CODE OF CONDUCT’ SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Contact:

Fitch Ratings, New York
Media Relations
Sandro Scenga, +1-212-908-0278
sandro.scenga@fitchratings.com
or
Primary Analyst
Senior Director
Du Trieu, +1-312-368-2091
or
Fitch Ratings, Inc.
70 W. Madison Street
Chicago, IL 60602
or
Secondary Analyst
Analyst
Khadija El Mediouri, +1-212-908-9109
or
Committee Chairperson
Senior Director
Brad Sohl, +1-212-908-0792

Article source: http://finance.yahoo.com/news/fitch-rates-sierra-timeshare-2014-182400091.html

Fitch Rates Sierra Timeshare 2014-2 Receivables Funding LLC

NEW YORK–(BUSINESS WIRE)–

Fitch Ratings assigns the following ratings to Sierra Timeshare 2014-2 Receivables Funding LLC:

–$276,920,000 class A asset-backed notes ‘Asf’; Outlook Stable;

–$73,080,000 class B asset-backed notes ‘BBBsf’; Outlook Stable.

KEY RATING DRIVERS

Consistent Collateral: Series 2014-2 has a comparable concentration of WVRI and WRDC loans relative to the prior transaction. Fitch has determined that, on a like-for-like FICO basis, WRDC’s receivables perform better than those of WVRI. Additionally, 2014-2 includes 3.4% of Shell loans (integrated within the WVRI platform) for which historical static pool default data were not provided. An additive stress was incorporated into Fitch’s base case proxy for 2014-2 to account for the lack of performance data on this portion of the receivables.

Recent Stabilization in WVRI Performance: Similar to other timeshare originators, Wyndham Worldwide’s delinquency and default performance exhibited notable increases in the 2007-2008 vintages. However, WRDC’s performance has improved since 2009, while WVRI continues to experience high defaults. Nonetheless, the 2013 vintage within the WVRI portfolio demonstrates relative stabilization in default performance.

Sufficient CE Structure: Initial hard credit enhancement (CE) is expected to be 30.50% and 11.50% for class A and B notes, respectively. Hard CE is composed of overcollateralization (OC), a letter of credit (LOC) reserve account and subordination. Soft CE is also provided by excess spread and is expected to be 10.27% per annum.

Quality of Origination/Servicing: Wyndham Worldwide has demonstrated sufficient abilities as an originator and servicer of timeshare loans. This is evidenced by the historical delinquency and loss performance of securitized trusts and of the managed portfolio.

Legal Structure Integrity: The legal structure of the transaction should provide that a bankruptcy of Wyndham Worldwide and Wyndham Consumer Finance, Inc. (WCF) would not impair the timeliness of payments on the securities.

RATING SENSITIVITIES

Unanticipated increases in the frequency of defaults could produce cumulative gross default (CGD) levels higher than the base case and would likely result in declines of credit enhancement and remaining default coverage levels available to the notes. Additionally, unanticipated increases in prepayment activity could also result in a decline in coverage. Decreased default coverage may make certain note ratings susceptible to potential negative rating actions, depending on the extent of the decline in coverage.

Thus, Fitch conducts sensitivity analysis stressing both a transaction’s initial base case CGD and prepayment assumptions by 1.5x and 2.0x and examining the rating implications on all classes of issued notes. The 1.5x and 2.0x increases of the base case CGD and prepayment assumptions represent moderate and severe stresses, respectively, and are intended to provide an indication of the rating sensitivity of notes to unexpected deterioration of a trust’s performance.

Key Rating Drivers and Rating Sensitivities are further described in the presale report dated July 1, 2014. Fitch’s analysis of the Representations and Warranties (RW) of this transaction can be found in ‘Sierra Timeshare 2014-2 Receivables Funding LLC – Appendix’. These RWs are compared to those of typical RW for the asset class as detailed in the special report ‘Representations, Warranties, and Enforcement Mechanisms in Global Structured Finance Transactions’ dated April 17, 2012.

The presale report is available to all investors on Fitch’s website at ‘www.fitchratings.com‘. For more information about Fitch’s comprehensive subscription service FitchResearch, which includes all presale reports, surveillance, and credit reports on more than 20 asset classes, contact product sales at +1-212-908-0800 or at ‘webmaster@fitchratings.com’.

Additional information is available at ‘www.fitchratings.com‘.

Applicable Criteria and Related Research:

–’Sierra Timeshare 2014-2 Receivable Funding LLC’ (July 1, 2014);

–’Sierra Timeshare 2014-2 Receivable Funding LLC — Appendix’ (July 1, 2014);

–’Criteria for Rating U.S. Timeshare Loan ABS’ (June 9, 2014);

–’Global Structured Finance Rating Criteria’ (May 20, 2014);

–’Representations, Warranties, and Enforcement Mechanisms in Global Structured Finance Transactions’ (April 17, 2012).

Applicable Criteria and Related Research:

Sierra Timeshare 2014-2 Receivables Funding LLC (US ABS)

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=751407

Sierra Timeshare 2014-2 Receivables Funding LLC — Appendix

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=751647

Criteria for Rating U.S. Timeshare Loan ABS

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=749780

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=748821

Representations, Warranties, and Enforcement Mechanisms in Global Structured Finance Transactions

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=676496

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=839873

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY’S PUBLIC WEBSITE ‘WWW.FITCHRATINGS.COM‘. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH’S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE ‘CODE OF CONDUCT’ SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Contact:

Fitch Ratings, New York
Media Relations
Sandro Scenga, +1-212-908-0278
sandro.scenga@fitchratings.com
or
Primary Analyst
Senior Director
Du Trieu, +1-312-368-2091
or
Fitch Ratings, Inc.
70 W. Madison Street
Chicago, IL 60602
or
Secondary Analyst
Analyst
Khadija El Mediouri, +1-212-908-9109
or
Committee Chairperson
Senior Director
Brad Sohl, +1-212-908-0792

Article source: http://finance.yahoo.com/news/fitch-rates-sierra-timeshare-2014-182400091.html

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