FAT Brands Royalty I, LLC: Presale Report

DBRS, Inc. (DBRS Morningstar) assigned provisional ratings to the following notes (the Notes) to be issued by FAT Brands Royalty I, LLC (the Issuer):

-- $1,000,000 Series 2020-1, Class A-1 Notes at BB (sf)
-- $19,000,000 Series 2020-1, Class A-2 Notes at BB (sf)
-- $1,000,000, Series 2020-1, Class B-1 Notes at B (sf)
-- $19,000,000 Series 2020-1, Class B-2 Notes at B (sf)