|
|
 |
|
Viewing report
|
|
|
|
1st Financial Credit Card Master Note Trust II Class B, C Note Ratings Lowered After Credit Card ABS Criteria Update Dec 11
Standard & Poors, Dec 2011
Abstract
OVERVIEW The transactions are securitizations backed by credit card receivables conveyed to the trust that arise from designated accounts selected from 1st Financial Bank USA's managed credit card portfolio. We lowered our ratings on the class B and C notes from four series and removed these ratings from CreditWatch negative. The downgrades reflect the application of our updated criteria for purchase and payment rate assumptions for credit card ABS, which we published Sept. 14, 2011. NEW YORK (Standard & Poor's) Dec. 15, 2011--Standard & Poor's Ratings Services today lowered its ratings on the class B and C notes from four 1st Financial Credit Card Master Note Trust II (FFCCMNT II) series. Concurrently, we removed these ratings from CreditWatch with negative...
Companies mentioned in this report are: 1st Financial Credit Card Master Note Trust II
Action: Affirmed
Action: Downgraded
Action: Removed From CreditWatch
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.
|
|
|
|
