{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Why TGIF Funding LLC\u2019s Series 2017-1 Class A-2 Was Downgraded","description":"We\u2019re joined by esoteric ABS credit analyst Christine Dalton to do a deep dive on the Nov. 4, 2024, downgrade of TGIF Funding LLC\u2019s 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. ","author_name":"Take Notes","author_url":"https:\/\/www.spglobal.com\/ratings\/en\/research-insights\/podcasts\/take-notes","html":"<iframe title=\"Libsyn Player\" style=\"border: none\" src=\"\/\/html5-player.libsyn.com\/embed\/episode\/id\/34536880\/height\/90\/theme\/custom\/thumbnail\/yes\/direction\/forward\/render-playlist\/no\/custom-color\/88AA3C\/\" height=\"90\" width=\"600\" scrolling=\"no\"  allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen><\/iframe>","thumbnail_url":"https:\/\/assets.libsyn.com\/secure\/item\/34536880"}