Credit Rating Report

Westgate Resorts 2020-1 LLC: Rating Report

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Summary

DBRS, Inc. (DBRS Morningstar) finalized its provisional ratings on the following classes of notes issued by Westgate Resorts 2020-1 LLC (the Issuer):

-- $113,900,000 Timeshare Collateralized Notes, Series 2020-1, Class A rated AAA (sf)
-- $88,600,000 Timeshare Collateralized Notes, Series 2020-1, Class B rated A (sf)
-- $72,500,000 Timeshare Collateralized Notes, Series 2020-1, Class C rated BBB (low) (sf)

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