Credit Rating Report

Westgate Resorts 2018-1 LLC: Rating Report

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Summary

DBRS, Inc. (DBRS) finalized its provisional ratings on the following classes of notes issued by
Westgate Resorts 2018-1 LLC:

-- $76,450,000 Timeshare Collateralized Notes, Series 2018-1, Class A rated AAA (sf)
-- $66,600,000 Timeshare Collateralized Notes, Series 2018-1, Class B rated A (sf)
-- $54,800,000 Timeshare Collateralized Notes, Series 2018-1, Class C rated BBB (sf)

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