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Presale: SVC ABS LLC (Series 2023-1)

S&P Global Ratings announced on Jan. 18, 2023, its request for comment on its new proposed criteria framework for rating triple-net or modified triple-net lease-backed transactions issued in North America. The ratings assigned by S&P Global Ratings to these triple-net lease-backed notes could change as a result of that review. The nature of any potential rating changes will depend on the final criteria adopted, as well as our assessment of the transaction. We cannot provide an estimated implementation date for the proposed criteria at this time (see "Request for Comment: North American Real Estate Securitizations Backed By Triple-Net Leases: Methodology And Assumptions," published Jan. 18, 2023, for more information).