Chase Issuance Trust $250 Million Class B(2009-2) Notes Rated 'A' Jun 09
Standard & Poors, June 2009
Abstract
OVERVIEW Chase Issuance Trust's class B(2009-2) is an ABS transaction backed by credit card receivables from VISA and MasterCard revolving credit card accounts. We are assigning our 'A' rating to the class B(2009-2) notes. The rating reflects our opinion of the transaction's credit support, the collateral loan pool's credit risk, and the servicer's experience, among other factors. NEW YORK (Standard & Poor's) June 30, 2009--Standard & Poor's Ratings Services today assigned its 'A' rating to Chase Issuance Trust's $250 million CHASEseries class B(2009-2) notes. The rating is based on: Our view that the 7% credit support that the subordinated notes provide is sufficient to withstand the simultaneous stresses that we apply, for each rating category, to our 8.0%-10.0% base case...
Companies mentioned in this report are:
- Chase Issuance Trust
- Chase Bank U.S. N.A.
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
- Chase Issuance Trust
- Chase Bank U.S. N.A.
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