S&P rates EW Global Funding notes A, BBB

Standard & Poor's said it assigned its preliminary ratings to $96 million in secured floating-rated notes to be issued by EW Global Funding Ltd., including a preliminary A rating on $87.5 million senior notes and a preliminary BBB rating on $8.5 million in junior notes.

The transaction consists of two classes of floating-rate notes backed by Korean franchise receivables originated by E. Land World Ltd. The preliminary ratings are based on information as of June 15. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings, S&P said.

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