Presale: Applause 2012-1 Beneficial Interests And Applause 2012-1 Trust ABL Mar 12
- ID: 2082634
- March 2012
- Standard & Poors
Nippon Standard & Poor's K.K. has assigned its preliminary 'AAA (sf)' rating to the Applause 2012-1 beneficial interests asset-backed securities (ABS) transaction, and its preliminary 'AAA' rating to the Applause 2012-1 Trust ABL, due February 2018 (see the tables above). The beneficial interests are secured by a pool of credit card shopping receivables and credit card cash advance receivables (hereafter, collectively referred to as "credit card receivables") originated under credit card agreements, and the trust asset-backed loan (ABL) is backed by the beneficial interests. The preliminary ratings reflect our opinion on the likelihood of the full and timely payment of interest and the ultimate repayment of principal by the transaction's legal final maturity date in February 2018. The preliminary ratings...
Companies mentioned in this report are: Applause 2012-1 Trust ABL,Applause 2012-1 beneficial interests
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