Presale: Chase Issuance Trust - Class A(2009-2) May 09
Standard & Poors, May 2009
Abstract
The preliminary rating assigned to Chase Issuance Trust's class A(2009-2) floating-rate CHASEseries notes due April 2014 is based on: The 14% credit support that the subordinated notes provide; Our view of the credit risk associated with the collateral loan pool's quality, based on our economic forecast, the trust's portfolio performance, the pool statistics, and vintage data; The credit rating on Chase Bank USA N.A. (Chase; AA-/Negative/A-1+), the originator; Our opinion of the continuous utility of the cards by obligors; the attractiveness of a particular pool to potential successor originators and/or servicers; and the card lender's and/or originator's ability to generate and transfer receivables to the trust, which, in our view, partly depends on the originator's credit rating and ability to...
Companies mentioned in this report are:
- Chase Bank U.S. N.A.
- Chase Issuance Trust
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
- Chase Bank U.S. N.A.
- Chase Issuance Trust
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