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BA Credit Card Trust Class A (2007-5) Rating Lowered Following Bank Rating Actions Jan 12
Standard & Poors, Jan 2012
Abstract
OVERVIEW BA Credit Card Trust's class A (2007-5) notes are backed by a portfolio of bank card credit card accounts originated by FIA Card Services N.A. We lowered our rating on the class A (2007-5) notes to 'AA- (sf)' from 'AA (sf)'. The downgrade reflects the lowering of the credit rating on Barclays Bank PLC as the swap counterparty on Nov. 29, 2011, and the application of our updated criteria for assessing counterparty risk, which we published Dec. 6, 2010. Due to its relatively short expected remaining life, our rating on class A (2002-2) was not affected by the CreditWatch negative placement of our credit rating on Deutsche Bank AG, the swap counterparty. NEW YORK (Standard & Poor's) Jan. 4,...
Companies mentioned in this report are: BA Credit Card Trust
Action: Downgraded
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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