...- We assigned our '### (sf)' rating to Master Credit Cards Pass Compartment France's series 2025-1 class A2025-1 notes. - The securitized portfolio comprises drawings from private individuals under a revolving credit agreement that Carrefour Banque S.A. originated in France. MILAN (S&P Global Ratings) April 25, 2025--S&P Global Ratings today assigned its '### (sf)' credit rating to Master Credit Cards Pass Compartment France's series 2025-1 class A2025-1 notes. The issuer also issued unrated class B2025-1 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 2025-1 is the eighth issuance from the FCT, since the inaugural issuance of series 2013-1 in November 2013. The securitized portfolio comprises drawings from private individuals under a revolving credit...
