General Motors Financial is marketing its second dealer floorplan securitization of the year, backed by the inventory financing receivables from a primarily GM franchise dealer base battling slowing sales and overstocked lots.

GM Floorplan Owner Revolving Trust (GFORT), Series 2017-2 is an $888.7 million transaction that is marketing bonds including $750 million in fixed- and floating-rate classes of senior notes. Those Class A-1 and A-2 notes are supported by 27.86% credit enhancement, with the exact split to be determined. They have preliminary AAA ratings from Fitch Ratings and Moody’s Investors Service.

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