We have reviewed Synchrony Financial under our bank criteria. (See " Ratings On Three U.S. Credit Card Companies Affirmed Following Application Of Bank Criteria," published Dec. 5, 2014.) We are affirming our 'BBB-' issuer credit rating on Synchrony Financial. The outlook remains stable, reflecting our expectation that Synchrony Financial will operate successfully as a stand-alone independent company with a financial profile that is adequate for the rating. On Dec. 5, 2014, Standard&Poor's Ratings Services affirmed its 'BBB-' issuer credit rating on Synchrony Financial (Synchrony). The outlook remains stable. Our ratings on Synchrony are supported by our view of the company's leading position and longstanding experience in the private-label credit card industry, its high earnings capacity and profitability through
