The U.S. ABS market's post-July 4 issuance is a mix with Wyndham Worldwide Corp. and Sallie Mae joining two auto transactions from Hyundai Motor Co. and World Omni Financial Corp.

Wyndham is in the market with a $250 million transaction divided into a $183.30 million Class A with an expected Fitch Ratings of 'Asf' and a $66.70 million Class B with a 'BBBsf' expected rating.

The deal called Sierra Timeshare 2012-2 Receivables Funding or Sierra 2012-2 is backed by a pool of fixed-rate timeshare loans originated by Wyndham Vacation Resorts and Wyndham Resort Development Corp., which are both both indirect, wholly owned operating units of Wyndham Worldwide, according to Fitch. This is the issuer's nineteenth Sierra transaction.

Meanwhile, Hyundai is planning to sell a $1.25 billion ABS called Hyundai Auto Receivables Trust 2012-B or HART 2012-B.

Moody's Investors Service has assigned the following provisional ratings to the transaction: Class A-1 notes rated 'P-1 (sf)'; Class A-2 notes rated 'Aaa (sf)'; Class A-3 notes rated 'Aaa (sf)'; Class A-4 Notes rated 'Aaa (sf)'; Class B Notes rated 'Aa2 (sf)'; and Class C notes rated 'A2 (sf)'.

According to Moody's, its median cumulative net loss expectation for the HART 2012-B pool is 1.50% and the 'Aaa' level is 10.00%. Moody's net loss expectation and 'Aaa' level for HART 2012-B are based on a credit quality analysis of the underlying collateral, historical performance trends, Hyundai Capital America's ability to perform the servicing functions, and the current future economic conditions expectations.

Moody's has also assigned provisional ratings of 'Aaa' to the three classes of senior notes issued by World Omni Auto Receivables Trust 2012-A or WOART 2012-A. The deal's Class B notes were assigned a provisional rating of 'A2 (sf).'

Joint bookrunners for the deal's Class A notes and the underwriters for its Class B notes are Barclays Capital, Bank of America Merrill Lynch and Morgan Stanley.

Co-managers on the Class A notes are BB&T Capital Markets, Comerica Securities, JPMorgan Securities, PNC Capital Markets, Raymond James/Morgan Keegan and Wells Fargo Securities.

For the Securities and Exchange Commission (SEC) filing on the deal, please click here.

Moody's median cumulative net loss expectation is 1.50% and the Aaa Level is 9.00% for the deal. The rating agency's net loss expectation and 'Aaa' level for the WOART 2012-A is based on an analysis of the credit quality of the underlying collateral, historical performance trends, the ability ofthe issuer to perform the servicing functions, and current expectations for future economic conditions.

Meanwhile, Sallie Mae also plans to sell a $1.25 billion SLABS. The deal, which is backed by Stafford and Plus loans, has joint leads JPMorgan, BofA Merrill and Credit Suisse.

For the SEC filing on the offering, please click here.

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