Westgate Resorts is planning a $94 million securitization of timeshare loans, its third for 2012, according to a presale report published Wednesday by Standard & Poor’s.

S&P has assigned a preliminary ‘A’ rating to a $66.5 million tranche with 41.9% subordination and overcollateralization and a ‘BBB’ rating to a $27.5 million tranche with 17.89% subordination and overcollateralization.

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