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Rating Assigned In UK ABS Of Credit Card Receivables Penarth Master Issuer Series 2011-2; Remaining Trust Notes Affirmed Nov 11 Product Image

Rating Assigned In UK ABS Of Credit Card Receivables Penarth Master Issuer Series 2011-2; Remaining Trust Notes Affirmed Nov 11

  • ID: 2026953
  • November 2011
  • Region: United Kingdom, Great Britain
  • Standard & Poors

FEATURED COMPANIES

  • Penarth Master Issuer PLC
  • MORE

Abstract
OVERVIEW We have assigned a 'AAA (sf)' rating to Penarth Master Issuer's series 2011-2 $600 million class A1 notes. This is the eighth issuance from the trust, and the second following the latest addition of new receivables. LONDON (Standard & Poor's) Nov. 22, 2011--Standard & Poor's Ratings Services today assigned its 'AAA (sf)' credit rating to Penarth Master Issuer PLC's class A1 asset-backed floating-rate notes series 2011-2. At the same time, we have affirmed our ratings on all of the other outstanding notes in the master trust (see list below). This is the eighth issuance from the trust, and the second following the addition of new receivables on April 1, 2011. The collateral comprises a pool of Visa, MasterCard, and...

Companies mentioned in this report are:
- Penarth Master Issuer PLC

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.

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