Fitch Rates Sierra Timeshare 2009-3 Receivables Funding, LLC

Fitch rates Sierra Timeshare 2009-3 Receivables Funding, LLC as follows:

--$175,000,000 vacation timeshare backed notes, series 2009-3 'A'.

For more information, please see the Sierra Timeshare 2009-3 Receivables Funding, LLC presale report, available to all investors on Fitch's web site at 'www.fitchratings.com'.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, 'www.fitchratings.com'. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.

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