OREANDA-NEWS. S&P Global Ratings today assigned its preliminary ratings to VSE 2016-A VOI Mortgage LLC's $300.00 million vacation ownership interest loan-backed notes series 2016-A (see list).

The note issuance is an ABS transaction backed by vacation ownership interest (timeshare) loans.

The preliminary ratings are based on information as of Sept. 8, 2016. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings.

The preliminary ratings reflect:The credit enhancement available in the form of overcollateralization, subordination (for class A notes only), a reserve account, and excess spread; and Vistana Portfolio Services Inc.'s servicing ability and experience in the timeshare market.