WF Card Issuance Trust WFCardSeries Class A(2024-1) Assigned Rating

WF Card Issuance Trust's issuance is an ABS securitization backed by a pool of revolving consumer credit card receivables generated by designated accounts that are owned by Wells Fargo Bank N.A. We assigned our rating to the class A(2024-1) notes. The rating reflects our view of the transaction's credit support, payment structure, cash flow mechanics, and legal structure, among other factors. GULFPORT (S&P Global Ratings) March 1, 2024--S&P Global Ratings today assigned its rating to WF Card Issuance Trust's $1,250 million WFCardSeries class A(2024-1) notes, which has a bond coupon of 4.94%. The note issuance is an ABS securitization backed by a pool of revolving consumer credit card receivables generated by designated accounts that are owned by Wells Fargo Bank

...- WF Card Issuance Trust's issuance is an ABS securitization backed by a pool of revolving consumer credit card receivables generated by designated accounts that are owned by Wells Fargo Bank N.A. - We assigned our rating to the class A(2024-1) notes. - The rating reflects our view of the transaction's credit support, payment structure, cash flow mechanics, and legal structure, among other factors. GULFPORT (S&P Global Ratings) March 1, 2024--S&P Global Ratings today assigned its rating to WF Card Issuance Trust's $1,250 million WFCardSeries class A(2024-1) notes, which has a bond coupon of 4.94%. The note issuance is an ABS securitization backed by a pool of revolving consumer credit card receivables generated by designated accounts that are owned by Wells Fargo Bank N.A. The rating reflects our view of: - Our view that the 20.00% credit support for the class A notes, which is provided by the subordinated class B, C, and D notes, are sufficient to withstand the simultaneous stresses we...

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