Cendant receives high rating

The parent company of RCIs, Cendant is doing well. This is of course good news for us timeshare owners because RCI is the backbone of timeshare ownership.

Here are the strong points as rated by Fitch - Fitch is the international ratings agency with offices in over 75 countries

Strengths of the Cendant 2005 include:

-- Note interest and certain payments of principal guaranteed under FGIC's note guaranty insurance policy;
-- Transaction's sound legal and cash flow structures;
-- Strength of Cendant as performance guarantor;
-- Cendant's presence in hospitality services, with leading positions in lodging, franchising, and timeshare exchange and development;
-- FRI's and Trendwest's combined 38 years of experience in the timeshare industry;
-- The high quality of the resorts;
-- Initial credit enhancement of 13.50% (12.50% overcollateralization and 1.0% reserve account).

Keep up the good work Cendant!