ABS investors and credit analysts are awaiting the outcome of the Swifty Serve (EZ-Serve) Chapter 7 liquidation and assets auction, which will directly impact recovery levels in three GE Franchise Finance deals, formerly Franchise Finance Corp. of America.

According to published reports, several bids have been approved by the bankruptcy court. Another round of approvals will take place on Tuesday, Jan. 21. In all, nearly 600 stores are to be sold, with the proceeds going to creditors, including GE Franchise Finance, master servicer on the deals.

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