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
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Research type: News
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