Cabela's Credit Card Master Note Trust $250 Million Notes Series 2011-II Assigned Preliminary Ratings Jun 11

Standard & Poors, June 2011

Abstract
OVERVIEW Cabela's Credit Card Master Note Trust's series 2011-II issuance is an ABS securitization backed by the series 2004-1 certificate issued by Cabela's Master Credit Card Trust (the master trust), which represents an undivided investor interest in the master trust's assets. The master trust's assets comprise credit card receivables in Visa revolving credit card accounts (and potentially in MasterCard accounts if issued in the future). We assigned our preliminary ratings to the class A, B, and C notes. The preliminary ratings reflect our view of the transaction's credit support, payment and legal structures, and pool characteristics, among other factors. NEW YORK (Standard & Poor's) June 20, 2011--Standard & Poor's Ratings Services today assigned its preliminary ratings to Cabela's Credit Card...

Companies mentioned in this report are: Cabela's Credit Card Master Note Trust
Action: Preliminary 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.

Cabela's Credit Card Master Note Trust

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