OVERVIEW Discover Card Execution Note Trust's class A(2011-2) DiscoverSeries issuance is an ABS securitization backed by undivided investor interest in Discover Card Master Trust I's series 2007-CC collateral certificate, which, in turn, is collateralized by receivables generated from designated Discover Card accounts. We assigned our preliminary 'AAA (sf)' rating to the class A(2011-2) notes. The preliminary 'AAA (sf)' rating reflects our view of the transaction's credit support, payment and legal structures, and pool characteristics, among other factors. NEW YORK (Standard & Poor's) May 26, 2011--Standard & Poor's Ratings Services today assigned its preliminary 'AAA (sf)' rating to Discover Card Execution Note Trust's $1.0 billion class A(2011-2) DiscoverSeries notes. The note issuance is an asset-backed securities transaction backed by undivided investor...
Companies mentioned in this report are:
- Discover Card Execution Note Trust
Action: Preliminary Rating
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Research type: News
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