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Preliminary Rating Assigned In Gracechurch Card Programme Funding's Series 2011-4 U.K. Credit Card Transaction Sep 11 Product Image

Preliminary Rating Assigned In Gracechurch Card Programme Funding's Series 2011-4 U.K. Credit Card Transaction Sep 11

  • ID: 1931785
  • September 2011
  • Region: United Kingdom, Great Britain
  • Standard & Poors

Abstract
OVERVIEW We have assigned a preliminary rating to Gracechurch Card Programme Funding's class A notes series 2011-4. The 2011-4 series will be Barclays Bank's 19th issuance out of the Gracechurch credit card trust. LONDON (Standard & Poor's) Sept. 21, 2011--Standard & Poor's Ratings Services today assigned its preliminary credit rating to Gracechurch Card Programme Funding PLC's euro-denominated asset-backed floating-rate class A notes series 2011-4. At the same time, Gracechurch Card Programme Funding will also issue unrated sterling-denominated class D notes (see list below). The 2011-4 series will be Barclays Bank PLC's 19th issuance out of the Gracechurch credit card trust. Gracechurch is a master trust established and operated by Barclays Bank (AA-/Negative/A-1+), whereby issuances to the capital markets partially fund...

Companies mentioned in this report are:
- Gracechurch Card Programme Funding PLC

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.

- Gracechurch Card Programme Funding PLC

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