Fitch Rates Sierra Timeshare 2007-1 Receivables Funding, LLC 'AAA' - Business Wire (press release)

The ratings on the class A notes are based on an unconditional and irrevocable financial guaranty insurance policy provided by Financial Guaranty Insurance Company (FGIC), whose insurer financial strength (IFS) rating is currently rated 'AAA' by Fitch. WVRI (59% of Sierra 2007-1) acquires and develops timeshare resorts, markets and sells vacation properties in its resorts, and finances the purchase and manages the day-to-day operations of timeshare resorts. WRDC (41% of Sierra 2007-1) markets, sells and finances vacation ownership interests in the form of vacation credits and fractional interests. WRDC's timeshare resorts (except fractional interests and most of the company's resorts in the South Pacific) are owned and operated through WorldMark - a California non-profit mutual benefit corporation organized by WRDC in 1989 to provide an innovative, flexible vacation ownership. read more

[Tags]resorts, timeshare, 20071, sierra, vacation, wrdc, timeshare[/Tags]