BXG Receivables Note Trust 2023-A: Presale Report
DBRS, Inc. (DBRS Morningstar) assigned provisional ratings to the BXG Receivables Note Trust 2023-A (BXG 2023-A) as listed. BXG 2023-A primarily consists of a pool of timeshare loans originated by Bluegreen Vacations Corporation or Bluegreen Properties N.V. (together, Bluegreen or the Company), each evidenced by a promissory note and secured by a first mortgage on a fractional fee-simple timeshare interest in a residential unit or an undivided interest in a Bluegreen resort associated with a residential unit and a pool of timeshare loans each secured by shares of the timeshare cooperative association at La Cabana Resort in Aruba (each a Timeshare Loan). The BXG 2023-A transaction represents the 17th term asset-backed security (ABS) transaction for Bluegreen since 2002, resulting in the issuance of approximately $2.2 billion of term ABS. The Company has completed ten transactions with senior and subordinate rated securities since 2008, and BXG 2023-A offers both senior and subordinate rated securities.
DBRS Morningstar is a global credit ratings business with 700 employees in eight offices globally. DBRS and Morningstar Credit Ratings are committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry.
Together, we are the world’s fourth largest credit ratings agency and a market leader in Canada, the U.S. and Europe in multiple asset classes. We rate more than 2,600 issuers and 54,000 securities worldwide and are driven to bring more clarity, diversity and responsiveness to the ratings process. Our approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources. For more details visit us at dbrs.com.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.