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Take Notes - Why TGIF Funding LLC’s Series 2017-1 Class A-2 Was Downgraded

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U.S. BSL CLO Obligors: Corporate Rating Actions Tracker 2025 (As Of June 20)

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Assessing The Evolving Third-Party Loan Origination Legal Risks For U.S. Consumer Loan ABS

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Navigating Tariffs' Credit Implications Across Asset Classes

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Global Tariff Tracker: Rating Actions As Of June 13, 2025

Listen: Take Notes - Why TGIF Funding LLC’s Series 2017-1 Class A-2 Was Downgraded

We’re joined by esoteric ABS credit analyst Christine Dalton to do a deep dive on the Nov. 4, 2024, downgrade of TGIF Funding LLC’s series 2017-1 class A-2. We look back at the deteriorating operating performance of TGI Friday's casual dining restaurants, the impact of the COVID-19 pandemic, increased securitization expenses following the manager transition a (manger termination event was declared on Sept. 5, 2024), potential disruption stemming from TGI Friday's Inc.'s bankruptcy filing on Nov. 2, 2024, and the virtual certainty of a payment default over the next 12 months.

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