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Fitch Assigns Final Ratings to Sierra Timeshare 2012-3 Receivables Funding LLC

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CHICAGO--(BUSINESS WIRE)--

Fitch Ratings assigns final ratings and Rating Outlooks to Sierra Timeshare 2012-3 Receivables Funding LLC as follows:

--$208,570,000 class A notes 'Asf'; Outlook Stable;
--$66,430,000 class B notes 'BBBsf'; Outlook Stable.

Fitch's stress and rating sensitivity analysis are discussed in the presale report titled 'Sierra Timeshare 2012-3 Receivables Funding LLC', dated Oct. 24, 2012, available at www.fitchratings.com.

Additional information is available at www.fitchratings.com. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.

Applicable Criteria and Related Research:
--'Criteria for Rating U.S. Timeshare Loan ABS', June 13, 2012;
--'Global Structured Finance Rating Criteria', June 6, 2012.

Applicable Criteria and Related Research:
Criteria for Rating U.S. Timeshare Loan ABS
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=680616
Global Structured Finance Rating Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679923

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Fitch Ratings
Primary Analyst:
Juveria Mozaffar, +1-312-606-2335
Associate Director
Fitch Inc., 70 W. Madison, Chicago, IL 60602
or
Secondary Analyst:
Smitha Dawson, +1-212-908-0298
Associate Director
or
Committee Chairperson:
Du Trieu, +1-312-368-2091
Senior Director
or
Media Relations:
Sandro Scenga, +1-212-908-0278
sandro.scenga@fitchratings.com

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