OREANDA-NEWS. S&P Global Ratings today assigned its ratings to MVW Owner Trust 2016-1's $250 million timeshare loan-backed notes series 2016-1 (see list).

The note issuance is an asset-backed securities transaction backed by vacation ownership interval (timeshare) loans.

The ratings reflect our opinion of the credit enhancement that is available in the form of overcollateralization, the subordination for the class A notes, the reserve account, and the available excess spread. The ratings are also based on our opinion of Marriott Ownership Resorts Inc.'s servicing ability and experience in the timeshare market.