Moody's assigns provisional (P)Aaa (sf) to Wells Fargo's A(2024-1) card ABS - Moody's Global Credit Research

Moody's assigns provisional (P)Aaa (sf) to Wells Fargo's A(2024-1) card ABS

Moody's assigns provisional (P)Aaa (sf) to Wells Fargo's A(2024-1) card ABS - Moody's Global Credit Research
Moody's assigns provisional (P)Aaa (sf) to Wells Fargo's A(2024-1) card ABS
Published Feb 15, 2024
5 pages (2493 words) — Published Feb 15, 2024
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...MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT...

  
Report Type:

Rating Action

Issuer
WF Card Issuance Trust, WFCardSeries
Format:
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Moody's assigns definitive Aaa (sf) to Wells Fargo's A(2024-1) card ABS - Rating Action – 2024/03/01 – US$ 180.00 – ...MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT...

WF Card Issuance Trust, WFCardSeries Class A(2024-1) Notes: Pre-Sale WF Card Issuance Trust issues its inaugural public ABS in 2024 - Pre-Sale Report – 2024/02/15 – US$ 250.00 – ...WF Card Issuance Trust is a newly formed de-linked credit card receivables-backed trust sponsored by Wells Fargo Bank, National Association, a national banking association owned by Wells Fargo & Company. WF Card Issuance Trust, WFCardSeries Class A(2024-1) notes is a securitization of credit card receivables generated from accounts that Wells Fargo Bank owns. We rate the transaction based on the credit quality of the receivables in the pool and the strength of the securitization structure. Transaction strengths include a highly rated sponsor bank, an experienced servicer, relatively low credit lines and seasoned accounts. Challenges include limited performance history, high proportion of minimum payers and potential for future account additions of lower credit quality. In general, we consider environmental, social and governance credit risks to be low for this transaction. Environmental and social credit risks are low as it is not a primary credit driver...

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Moody's Global Credit Research—Moody's Investors Service, a leading global credit rating, research and risk analysis firm, publishes credit opinions, research, and ratings on fixed-income securities, issuers of securities and other credit obligations. Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Ratings also create efficiencies in fixed-income markets and similar obligations, such as insurance and derivatives, by providing reliable, credible, and independent assessments of credit risk. For issuers, Moody's services increase market liquidity and may reduce transaction costs.

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MLA:
Moody's Global Credit Research. "Moody's assigns provisional (P)Aaa (sf) to Wells Fargo's A(2024-1) card ABS" Feb 15, 2024. Alacra Store. May 25, 2024. <http://www.alacrastore.com/moodys-credit-research/Moody-s-assigns-provisional-P-Aaa-sf-to-Wells-Fargo-s-A-2024-1-card-ABS-PR_485119>
  
APA:
Moody's Global Credit Research. (). Moody's assigns provisional (P)Aaa (sf) to Wells Fargo's A(2024-1) card ABS Feb 15, 2024. New York, NY: Alacra Store. Retrieved May 25, 2024 from <http://www.alacrastore.com/moodys-credit-research/Moody-s-assigns-provisional-P-Aaa-sf-to-Wells-Fargo-s-A-2024-1-card-ABS-PR_485119>
  
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