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New Issue: Arran Cards Funding PLC Jan 12 Product Image

New Issue: Arran Cards Funding PLC Jan 12

  • ID: 2044194
  • January 2012
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services today assigned its 'AAA (sf)' credit rating to Arran Cards Funding PLC's series 2012-1 class A1 asset-backed floating-rate notes. At the same time, Arran Cards Funding has issued class D1 notes, which we do not rate. We have also affirmed our 'AAA (sf)' ratings on Arran Card Funding's series 2011-A class A1 notes, following a review of the other notes that we rate in the master trust. Arran Cards Funding has been created as a successor to the Arran Funding trust, which was wound up in June 2011. As of July 31, 2011, most (83.12% by balance) of the accounts from the wound-up trust had been transferred to the new trust. This is the second...

Companies mentioned in this report are:
- Arran Cards Funding 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: Full Analysis

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