[NSP] Ocean Series 2011-3 Beneficial Interests And Trust ABL Assigned Ratings Feb 12

Standard & Poors, February 2012

Abstract
OVERVIEW Ocean Series 2011-3 beneficial interests is an ABS securitization backed by a pool of credit card receivables, and Ocean Series 2011-3 trust ABL is backed by the Ocean Series 2011-3 beneficial interests. The ratings reflect our view of the credit quality of the underlying assets, the transaction's structure, pool characteristics, credit support, legal risks, and other factors. We have assigned our 'AAA (sf)' rating to the Ocean Series 2011-3 beneficial interests, and our 'AAA' rating to the Ocean Series 2011-3 trust ABL. TOKYO (Standard & Poor's) Feb. 10, 2012--Nippon Standard & Poor's K.K. (NSP) today said that it has assigned its 'AAA (sf)' rating to the fixed-rate Ocean Series 2011-3 beneficial interests asset-backed securities (ABS) securitization, and its 'AAA'...

Companies mentioned in this report are: Ocean Series 2011-3 beneficial interests,Ocean Series 2011-3 Trust ABL
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.

Ocean Series 2011-3 beneficial interests,Ocean Series 2011-3 Trust ABL

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