Master Credit Cards Pass Compartment France Series 2022-1 Class A2022-1 Notes Assigned Rating

We assigned our 'AAA (sf)' rating to Master Credit Cards Pass Compartment France's series 2022-1 class A2022-1 notes. The securitized portfolio will comprise drawings from private individuals under a revolving credit agreement that Carrefour Banque S.A. originated in France. PARIS (S&P Global Ratings) June 27, 2022--S&P Global Ratings assigned its 'AAA (sf)' credit rating to Master Credit Cards Pass Compartment France's series 2022-1 class A2022-1 notes. At closing, the issuer will issue unrated class B2022-1 and S notes (see list). Master Credit Cards Pass Compartment France is a socialized master trust that issues notes in separate series, commonly referred to as a linked structure. The issuer is a bankruptcy remote French securitization fund (a "Fonds Commun de Titrisation"; FCT). Series

...- We assigned our '### (sf)' rating to Master Credit Cards Pass Compartment France's series 2022-1 class A2022-1 notes. - The securitized portfolio will comprise drawings from private individuals under a revolving credit agreement that Carrefour Banque S.A. originated in France. PARIS (S&P Global Ratings) June 27, 2022--S&P Global Ratings assigned its '### (sf)' credit rating to Master Credit Cards Pass Compartment France's series 2022-1 class A2022-1 notes. At closing, the issuer will issue unrated class B2022-1 and S notes (see list). Master Credit Cards Pass Compartment France is a socialized master trust that issues notes in separate series, commonly referred to as a linked structure. The issuer is a bankruptcy remote French securitization fund (a "Fonds Commun de Titrisation"; FCT). Series 2022-1 is the seventh issuance from the FCT, since the inaugural issuance of series 2013-1 in November 2013. The securitized portfolio will comprise drawings from private individuals under a revolving...

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