Discover Financial Services, Inc http://www.alacrastore.com/company-snapshot/Discover_Financial_Services_Inc-3163936 Sunday, November 23, 2008 3:40:47 AM 3163936 Discover Financial Services, Inc en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/spcred/592759spcred/592759normThe latest Summary from S&Pglobalstructured11/5/2008 12:10:51 PM175Summary592759United StatesConsumer FinanceUnited StatesGlobal IssuersStructured FinanceFinancial InstitutionsAsset-Backed SecuritiesSummaryStandard&Poor's Ratings Services' current ratings on Discover Financial Services (Discover) reflect the firm's new status as a stand-alone entity. Discover was spun-off from Morgan Stanley on June 30, 2007. The ratings are driven by Discover's distinct brand identity and generally improving credit risk management. Offsetting these positives are Discover's monoline business nature and the intense sector competition leading to portfolio growth challenges. As the third-largest merchant card network in the U.S., Discover benefits from distinct brand identity, as only Discover and American Express both issue credit cards and process them on their own networks. This model offers a degree of diversification within the credit card business. However, Discover's network lags those of Visa and MasterCard in terms ofUSA25470940202010 402020 4020 40Discover Financial Services Inc.348447USADFSSUMMARYGLOBISSSTRUCFIABSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/592758spcred/592758normThe latest Full Report from S&Pglobalstructured11/5/2008 12:10:51 PM400Full Report592758United StatesConsumer FinanceUnited StatesGlobal IssuersStructured FinanceFinancial InstitutionsAsset-Backed SecuritiesFull ReportDistinct brand identity Strengthening credit risk trend Monoline business nature Strong competition leading to portfolio growth challenges High cost to acquire profitable accounts Standard&Poor's Ratings Services' current ratings on Discover Financial Services (Discover) reflect the firm's new status as a stand-alone entity. Discover was spun-off from Morgan Stanley on June 30, 2007. The ratings are driven by Discover's distinct brand identity and generally improving credit risk management. Offsetting these positives are Discover's monoline business nature and the intense sector competition leading to portfolio growth challenges. As the third-largest merchant card network in the U.S., Discover benefits from distinct brand identity, as only Discover and American Express both issue credit cards and process them on their own networks. ThisUSA25470940202010 402020 4020 40Discover Financial Services Inc.348447USADFSFULLUSA2546X040202010 402020 4020 40Discover Bank115909USAGWODGLOBISSSTRUCFIABSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/fitch/412254_report_framefitch/412254_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.American Express CompanyBank of America CorporationDiscover Financial Services, IncCitigroup Inc.ADVANTA CorporationCapital One Financial CorporationJPMorgan Chase & Co804171798008902280089031800896228557527380091007800893388008918911/3/2008 10:13:00 AM010102010101010001010200275Special ReportCOFADVNAAXPDFSBACCJPM412254_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/spcred/674861spcred/674861normThe latest Summary from S&Pglobalstructured10/3/2008 2:01:00 PM175Summary674861United StatesConsumer FinanceUnited StatesGlobal IssuersStructured FinanceFinancial InstitutionsAsset-Backed SecuritiesSummaryStandard&Poor's Ratings Services' ratings on Discover Financial Services Inc. (Discover) reflect the firm's new status as a stand-alone entity. Discover was spun off from Morgan Stanley on June 30, 2007. The ratings are driven by Discover's distinct brand identity and generally improving credit risk management. Offsetting these positives are Discover's monoline business nature and the intense sector competition, which lead to portfolio growth challenges. As the third-largest merchant card network in the U.S., Discover benefits from distinct brand identity, as only Discover and American Express both issue credit cards and process them on their own networks. Of these two, Discover is the only one with both credit and debit capabilities. This model offers a degree of diversification withinUSA25470940202010 402020 4020 40Discover Financial Services Inc.348447USADFSSUMMARYGLOBISSSTRUCFIABSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/newstex/BW-0001-28015646newstex/BW-0001-28015646xml Sep. ##, #### (Business Wire) -- Discover Financial Services (NYSE:DFS) plans to report its third quarter #### results before the market opens on Thursday, Sept. ##, ####. The earnings release will be available on Discover's corporate...04000000040060000401600004016018040160489/11/2008 7:24:34 PM180000001800400018008000Business WireBW-0001-28015646DISCOVER FINANCIAL SERVICESMORGAN STANLEYDFSMSNewsNewstexhttp://www.alacrastore.com/storecontent/fitch/400414_report_framefitch/400414_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.ADVANTA CorporationAgFirst Farm Credit BankAIG Capital CorporationAllied Capital CorporationAmerican Capital, LtdAmerican Express CompanyAmerican General Finance CorporationAmeriCredit CorporationApollo Investment Corp.Avis Budget Car Rental, LLCBoeing Capital CorporationCapital One Financial CorporationCapitalSource Inc.Capmark Financial Group IncCaterpillar Financial Services CorporationCoBank, ACBCountrywide Financial CorporationDaimler Financial Services Americas LLCDiscover Financial Services, IncDoral Financial CorporationFinancial Federal Credit Inc.Ford Motor Credit Company LLCGatx Financial CorporationGeneral Motors Acceptance Corporation (U.K.) Finance PlcHarley-Davidson Financial Services, Inc.HSBC Finance Corp.International Lease Finance CorporationLeucadia National CorporationMCG Capital CorporationNational Consumer Cooperative BankNational Rural Utilities Cooperative Finance CorporationNavistar Financial CorporationOcwen Financial CorporationPHH CorporationResidential Capital, LLCRyder System, Inc.SLM CorporationTextron Financial CorporationThe CIT Group, Inc.The Hertz CorporationUnited Rentals, Inc.Wheels IncXerox Credit Corporation80088947800889588008899680089055800891008008918980089227800892808008933880089366800894438008946780089616800898218008983380089848800902408009024580090302800904718009055780090947800909948009100780091030800910658009110480091121800911448009156780091592800917568041717980447980816511648174006581873121819121738194277782052547821790328295392582979526855752738579147386598711870295529/9/2008 6:34:00 PM010000000101000001010100010102000101020101010202010102050101020601010207010102080101030001010308010300000103130001031301275NewsletterACASACFADVNAAINVALDAXPCITCOFCSEDFSDRLLUKMCGCOCNPHHRSLMURI400414_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/spcred/669390spcred/669390normThe latest Full Report from S&Pglobalstructured9/4/2008 11:54:00 AM400Full Report669390United StatesConsumer FinanceUnited StatesGlobal IssuersStructured FinanceFinancial InstitutionsAsset-Backed SecuritiesFull ReportDistinct brand identity Strong but normalizing credit risk trends Monoline business nature Strong competition leading to portfolio growth challenges Weak profitability metrics Standard&Poor's Ratings Services' ratings on Discover Financial Services Inc. (Discover) reflect the firm's new status as a stand-alone entity. Discover was spun off from Morgan Stanley on June 30, 2007. The ratings are driven by Discover's distinct brand identity and generally improving credit risk management. Offsetting these positives are Discover's monoline business nature and the intense sector competition, which lead to portfolio growth challenges. As the third-largest merchant card network in the U.S., Discover benefits from distinct brand identity, as only Discover and American Express both issue credit cards and process them on their own networks.USA25470940202010 402020 4020 40Discover Financial Services Inc.348447USADFSFULLUSA2546X040202010 402020 4020 40Discover Bank115909USAGWODGLOBISSSTRUCFIABSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/fitch/391126_report_framefitch/391126_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.ADVANTA CorporationAmerican Express CompanyBank of America CorporationCapital One Financial CorporationCitigroup Inc.Discover Financial Services, IncJPMorgan Chase & Co80089022800890318008918980089338800896228009100780417179855752736/27/2008 2:15:00 PM010101000101020001010201275Special ReportADVNAAXPBACCCOFDFSJPM391126_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/390082_report_framefitch/390082_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.ADVANTA CorporationAIG Capital CorporationAmerican Express CompanyAmerican General Finance CorporationAmerican Honda Finance CorporationAmeriCredit CorporationBoeing Capital CorporationCapitalSource Inc.Capmark Financial Group IncCaterpillar Financial Services CorporationDaimler Financial Services Americas LLCDiscover Financial Services, IncFinancial Federal Credit Inc.Ford Motor Credit Company LLCGATX CorporationGMAC LLCHarley-Davidson Financial Services, Inc.IBM International Group Capital LLCInternational Lease Finance CorporationNational Consumer Cooperative BankNavistar Financial CorporationPHH CorporationResidential Capital, LLCSLM CorporationThe CIT Group, Inc.80088947800889968008899980089055800891898008919780089280800893668008982180090240800902458009030280090947800909948009100780091030800911218041717981912173819147508205254782979526855752738579147386115302865987116/16/2008 6:29:00 PM01010000010101000101020001010201010102020101020501010206010102070101020801030000010305000103130001031301275Criteria ReportACFADVNAAXPCITCSEDFSGMTPHHSLM390082_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/390092_report_framefitch/390092_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.ADVANTA CorporationAIG Capital CorporationAmerican Express CompanyAmerican General Finance CorporationAmerican Honda Finance CorporationAmeriCredit CorporationBoeing Capital CorporationCapitalSource Inc.Capmark Financial Group IncCaterpillar Financial Services CorporationDaimler Financial Services Americas LLCDiscover Financial Services, IncFinancial Federal Credit Inc.Ford Motor Credit Company LLCGATX CorporationGMAC LLCHarley-Davidson Financial Services, Inc.IBM International Finance N.V.International Lease Finance CorporationNational Consumer Cooperative BankNavistar Financial CorporationPHH CorporationResidential Capital, LLCSLM CorporationThe CIT Group, Inc.80088947800889968008899980089055800891838008918980089197800892808008936680089821800902408009024580090302800909478009099480091007800910308009112180417179819121738191475082052547829795268557527385791473865987116/16/2008 6:29:00 PM010100000101010001010200010102010101020201010205010102060101020701010208010300000103130001031301275Criteria ReportACFADVNAAXPCITCSEDFSGMTPHHSLM390092_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/389922_report_framefitch/389922_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Discover BankDiscover Financial Services, Inc80091981855752736/13/2008 2:14:01 PM010101000101020001010203425Full Rating ReportDFS389922_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/389918_report_framefitch/389918_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Discover BankDiscover Financial Services, Inc80091981855752736/13/2008 2:14:01 PM010101000101020001010203165Credit UpdateDFS389918_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/422385_pr_framefitch/422385_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Discover BankDiscover Financial Services, Inc80091981855752736/2/2008 2:13:00 PM01010100010102000101020385Press ReleaseDFS422385_pr_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/385950_report_framefitch/385950_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.ADVANTA CorporationAgos S.p.A.Allied Capital CorporationAmerican Capital Strategies, Ltd.American Express CompanyAmerican General Finance CorporationAmeriCredit CorporationAstana Finance JSCAvis Budget Car Rental, LLCBanca Agrileasing SpaBanca IfisBanca Italease S.p.A.Boeing Capital CorporationBre Leasing Sp Z O OCapital One Financial CorporationCapitalSource Inc.Caterpillar Financial Services CorporationCattles plcCountrywide Financial CorporationDiscover Financial Services, IncEksportfinans ASAEurofactorFiat Group Automobiles Financial Services S.P.A.Financial Federal Credit Inc.Ford Motor Credit Company LLCGatx Financial CorporationGMAC Commercial Mortgage Bank, P.L.C.GMAC LLCHarley-Davidson Financial Services, Inc.HSBC Finance Corp.IndyMac Bancorp, Inc.International Lease Finance CorporationiStar Financial Inc.LeasePlan Corporation N.V.Leucadia National CorporationMCG Capital CorporationNational Consumer Cooperative BankNational Rural Utilities Cooperative Finance CorporationOcwen Financial CorporationPHH CorporationProvident Financial plcRCI BanqueResidential Capital, LLCRyder System, Inc.Santander Consumer Finance S.A.SLM CorporationSofincoTextron Financial CorporationThe CIT Group, Inc.United Rentals (North America), IncVR-Leasing AG80088947800889588008899680088999800890558008918980089280800893388008936680089443800894678008961680089821800898488008990580090240800902458009030280090471800909478009099480091007800910308009110480091144800917568035954180360035803602318036060980360689803610778036118080362343804171798044798080707579807629948111383181707488817400658175086581912173819427778196912481977338820525478217903282756317829539258396828685575273867301445/9/2008 2:13:00 PM010000000101000001010100010102000101020101010202010102050101020601010207010102080101021001030000010302000103130001031301275Special ReportACASACFADVNAALDASFIAXPBILCFCCITCOFCSECTTDFSIFIMBLUKMCGCOCNPFGPHHRSFISLM385950_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/spcred/645853spcred/645853normThe latest Summary from S&Pglobalstructured5/1/2008 2:34:00 AM175Summary645853United StatesConsumer FinanceUnited StatesGlobal IssuersStructured FinanceFinancial InstitutionsAsset-Backed SecuritiesSummaryStandard&Poor's Ratings Services' ratings on Discover Financial Services Inc. (Discover) reflect the firm's new status as a stand-alone entity. Discover was spun off from Morgan Stanley on June 30, 2007. The ratings are driven by Discover's distinct brand identity and generally improving credit risk management. Offsetting these positives are Discover's monoline business nature and the intense sector competition, which lead to portfolio growth challenges. As the third-largest merchant card network in the U.S., Discover benefits from distinct brand identity, as only Discover and American Express both issue credit cards and process them on their own networks. Of these two, Discover is the only one with both credit and debit capabilities. This model offers a degree of diversification withinUSA25470940202010 402020 4020 40Discover Financial Services Inc.348447USADFSSUMMARYUSA2546X040202010 402020 4020 40Discover Bank115909USAGWODGLOBISSSTRUCFIABSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/645849spcred/645849normThe latest Full Report from S&Pglobalstructured5/1/2008 2:34:00 AM400Full Report645849United StatesConsumer FinanceUnited StatesStructured FinanceGlobal IssuersAsset-Backed SecuritiesFinancial InstitutionsFull ReportDistinct brand identity Strong but normalizing credit risk trends Monoline business nature Strong competition leading to portfolio growth challenges Weak profitability metrics Standard&Poor's Ratings Services' ratings on Discover Financial Services Inc. (Discover) reflect the firm's new status as a stand-alone entity. Discover was spun off from Morgan Stanley on June 30, 2007. The ratings are driven by Discover's distinct brand identity and generally improving credit risk management. Offsetting these positives are Discover's monoline business nature and the intense sector competition, which lead to portfolio growth challenges. As the third-largest merchant card network in the U.S., Discover benefits from distinct brand identity, as only Discover and American Express both issue credit cards and process them on their own networks.USA40202010 402020 4020 40Discover Financial Services Inc.348447USADFSFULLUSA2546X040202010 402020 4020 40Discover Bank115909USAGWODSTRUCGLOBISSABSFICredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/641350spcred/641350normThe latest News from S&Pglobalstructured4/7/2008 1:15:00 PM100News641350United StatesConsumer FinanceUnited StatesGlobal IssuersStructured FinanceFinancial InstitutionsAsset-Backed SecuritiesNewsNEW YORK (Standard&Poor's) April 7, 2008--Standard&Poor's Ratings Services said today that its rating on Discover Financial Services Inc. (Discover; BBB-/Stable/A-3) will not be affected by the company's announcement that it will acquire Diners Club International from Citigroup Inc. for $165 million. Diners Club is a premier global payments network and complements Discover's third-party payment segment very well. Diners Club provides global exposure into markets where Discover did not have a presence. In addition, the goodwill generated is a very small portion of Discover's existing balance sheet. Discover should start reaping the benefits of the acquisition in next couple of years, as it integrates the two networks. This acquisition is aligned with our expectation of management's focusUSA25470940202010 402020 4020 40Discover Financial Services Inc.348447USADFSNEWSGLOBISSSTRUCFIABSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/fitch/375402_report_framefitch/375402_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.ADVANTA CorporationAgFirst Farm Credit BankAllied Capital CorporationAmerican Capital Strategies, Ltd.American Express CompanyAmerican General Finance CorporationAmeriCredit CorporationAvis Budget Car Rental, LLCBlock Financial LLCBoeing Capital CorporationBombardier Capital Inc.Capital One Financial CorporationCapitalSource Inc.Capmark Financial Group IncCaterpillar Financial Services CorporationCoBank, ACBCountrywide Financial CorporationDaimler Financial Services Americas LLCDiscover Financial Services, IncDoral Financial CorporationFinancial Federal Credit Inc.Ford Motor Credit Company LLCFremont General CorporationGatx Financial CorporationGeneral Motors Acceptance Corporation (U.K.) Finance PlcHarley-Davidson Financial Services, Inc.Hertz Global Holdings, Inc.HSBC Finance CorpIndyMac Bancorp, Inc.International Lease Finance CorporationInterpool, Inc.MCG Capital CorporationNational Consumer Cooperative BankNational Rural Utilities Cooperative Finance CorporationNavistar Financial CorporationOcwen Financial CorporationPHH CorporationR&G Financial CorporationResidential Capital, LLCRyder System, Inc.SLM CorporationTextron Financial CorporationThe CIT Group, Inc.United Rentals, Inc.Wheels IncXerox Credit Corporation80088947800889588008899680089055800891008008918980089227800892808008933880089366800893718008944380089467800896168008982180089833800898488009024080090245800903028009045780090471800905578009094780090994800910078009103080091065800911218009114480091392800915678009159280091756804171798044798081651164817400658187312181912173819427778205254782179032829539258297952685575273857914733/4/2008 6:29:00 PM01000000010100000101010001010200010102010101020201010205010102060101020701010208010300000103130001031301275NewsletterACASACFADVNAALDAXPCFCCITCOFCSEDFSDRLFMTHTZIMBMCGCOCNPHHRRGFCSLMURI375402_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/404815_pr_framefitch/404815_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Discover Financial Services, Inc855752732/8/2008 2:16:00 PM010101000101020075Press ReleaseDFS404815_pr_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/367682_report_framefitch/367682_report_framepdfADVANTA CorporationAmerican Express CompanyBank of America CorporationCapital One Financial CorporationCitigroup Inc.Discover Financial Services, IncJPMorgan Chase & Co80089022800890318008918980089338800896228009100780417179855752731/10/2008 2:16:00 PM250Special ReportADVNAAXPBACCCOFDFSJPMFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.367682_report_frameCredit & Investment ResearchFitch Research