Westgate Resorts 2020-1 LLC: Presale Report

DBRS, Inc. (DBRS Morningstar) assigned provisional ratings to the Timeshare Collateralized Notes, Series 2020-1 to be issued by Westgate Resorts 2020-1 LLC (Westgate 2020-1 or the Issuer). Westgate has issued more than $3.23 billion of structured timeshare mortgage financings since 1992 and was active in the term ABS market between 1998 and 2001. The Westgate 2020-1 transaction represents the 14th ABS transaction for Westgate Resorts, Ltd. (Westgate or the Company) since the beginning of 2012. Westgate 2020-1 offers both senior and subordinate rated securities.