CHICAGO, IL (August 18, 2011) — Fitch Ratings has taken rating actions on the notes issued by various Sierra Timeshare Receivables transactions as detailed below:
Sierra Timeshare 2007-1 Receivables Funding, LLC
–Class A-1 notes affirmed at ‘Asf’; Outlook Stable;
–Class A-2 notes affirmed at ‘Asf’; Outlook Stable.
Sierra Timeshare 2008-1 Receivables Funding, LLC
–Class A-1 notes affirmed at ‘AAAsf’; Outlook [...]

CHICAGO, IL (July 1, 2011) — Fitch Ratings has published an updated Asset-Backed sector specific criteria report for rating U.S. timeshare loan transactions. Although this report updates and replaces the prior criteria report titled ‘Criteria for Rating U.S. Timeshare Loan ABS’ dated June 25, 2010, there are no material changes from the prior report.
The report [...]

NEW YORK (March 15,2011) — Fitch Ratings expects to rate Sierra Timeshare 2011-1 Receivables Funding LLC (Sierra 2011-1) as follows:
–$184,950,000 class A notes ‘Asf’; Outlook Stable;
–$49,750,000 class B notes ‘BBBsf’; Outlook Stable
–$15,300,000 class C notes ‘BB-sf’; Outlook Stable.
Fitch’s stress and rating sensitivity analysis are discussed in the presale report titled ‘Sierra Timeshare 2011-1 Receivables Funding [...]

SAN FRANCISCO, CA (December 30, 2010) — Fitch Ratings upgrades the following South Lake Tahoe Recreation Facilities Joint Powers Authority Community Facilities District No. 2000-1, CA (the district) debt as part of its continuous surveillance effort:
–$4.5 million of property assessment-parcel tax bonds upgraded to ‘AA-’ from ‘A+’.
The Rating Outlook is Stable.
RATING RATIONALE:
–The upgrade reflects the [...]

CHICAGO, IL (October 22, 2010) — Fitch Ratings assigns ratings to Sierra Timeshare 2010-3 Receivables Funding LLC (Sierra 2010-3). The Rating Outlook is Stable for both classes of notes. A full rating list is shown below.
Fitch’s stress and rating sensitivity analysis are discussed in the presale report titled ‘Sierra Timeshare 2010-3 Receivables Funding LLC,’ dated [...]

CHICAGO, IL (October 13, 2010) — Fitch Ratings expects to rate Sierra Timeshare 2010-3 Receivables Funding LLC (Sierra 2010-3) as follows:
–$208,100,000 class A notes ‘Asf’; Outlook Stable;
–$41,900,000 class B notes ‘BBBsf’; Outlook Stable.
Fitch’s stress and rating sensitivity analysis are discussed in the presale report titled ‘Sierra Timeshare 2010-3 Receivables Funding LLC’, dated Oct. 12, 2010, [...]

CHICAGO, IL (August 27, 2010) — (This is an amended version of a press release originally published on Aug. 24 and removes a reference to a rating action on a privately placed class of notes.)
Fitch Ratings has taken rating actions on the notes issued by various Sierra Timeshare Receivables transactions as detailed below:
Sierra Timeshare 2005-1 [...]

CHICAGO, IL (August 12, 2010) U.S. timeshare ABS delinquencies and defaults are down for the second straight quarter, though the trend will not last if seasonal patterns take hold, according to the latest timeshare ABS index from Fitch Ratings.
The decline in delinquencies in second-quarter 2010 (2Q’10) reflects both seasonal and year-over-year improvement. Defaults, while lagging [...]

NEW YORK (July 2, 2010) Fitch Ratings has downgraded 19 classes from Credit Suisse First Boston Mortgage Securities Corp., Series 2006-TFL2, reflecting Fitch’s base case loss expectation of 8.2% for the pooled classes. The non-pooled junior component certificates were also downgraded to reflect Fitch’s significant loss expectations on these assets. Fitch’s performance expectation incorporates prospective [...]

CHICAGO, IL (May 13, 2010) — Total U.S. timeshare ABS delinquencies fell in first quarter-2010 (1Q’10), according to the latest timeshare ABS index from Fitch Ratings.
The decline in delinquencies reflects not only historical seasonal improvement that timeshare loans usually see in the spring, but improvement year-over-year. “Though still above historical norms, U.S. timeshare ABS delinquencies [...]