One Rating Raised, 188 Ratings Affirmed On 14 U.S. And Canadian Bank Credit Card ABS Trusts

OVERVIEW We conducted a shelf review of all ABS collateralized by credit card receivables from 14 U.S. and Canadian master trusts. We raised one rating, affirmed 188 ratings, and discontinued one rating. We reviewed and updated our base-case assumptions and stresses to the key variables (yield, charge-off rate, and payment rate) that we use when modeling and rating credit card ABS based on collateral quality and pool performance trends and our economic and sector outlook. NEW YORK (S&P Global Ratings) Nov. 14, 2016--S&P Global Ratings today affirmed its ratings on 188 classes and raised its rating on one class of asset-backed securities (ABS) issued out of 14 master trusts collateralized by bank credit card receivables from U.S. and Canadian originators.

...OVERVIEW + We conducted a shelf review of all ABS collateralized by credit card receivables from 14 U.S. and Canadian master trusts. + We raised one rating, affirmed 188 ratings, and discontinued one rating. + We reviewed and updated our base-case assumptions and stresses to the key variables (yield, charge-off rate, and payment rate) that we use when modeling and rating credit card ABS based on collateral quality and pool performance trends and our economic and sector outlook. NEW YORK (S&P Global Ratings) Nov. 14, 2016--S&P Global Ratings today affirmed its ratings on 188 classes and raised its rating on one class of asset-backed...

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