Silverleaf Finance is making its annual trip to the securitization market with a $150.8 million deal backed by timeshare loans.

Standard & Poor’s has assigned a preliminary ‘A’ rating to the $118 million senior class of notes to be issued by Silverleaf Finance XVIII LLC (Series 2014-A), which benefits from subordination and overcollateralization of 27.63%. S&P also assigned a provisional ‘BBB’ rating to $32.8 million of notes that benefit from credit enhancement of 7.5%.

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