New Issue: Bank One Issuance Trust Mar 03

  • ID: 1828640
  • March 2003
  • Standard & Poors
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The rating assigned to Bank One Issuance Trust's ONEseries $850 million class A(2002-5) notes reflects the experience of Bank One Delaware N.A. (Bank One Delaware; 'A+/A-1') as originator and servicer; the strong and stable portfolio performance of the collateral; the satisfaction of current issuance tests; and the sound structural and legal provisions. Bank One Delaware was known as First USA National Bank N.A. Wilmington until 2002. As of the issuance date of the class A(2002-5) notes, the aggregate adjusted outstanding dollar principal amount (ODPA) of the ONEseries was approximately $4.6 billion. This is the fifth class A issuance out of the program. The class A(2002-5) notes issued are a subclass of the class A notes in the ONEseries. The ONEseries...

Companies mentioned in this report are:
- Chase Issuance Trust

Action: New Rating

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

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- Chase Issuance Trust

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