Fitch Publishes Ratings for Tranches Retained by Capital One

NEW YORK--(BUSINESS WIRE)--Fitch publishes the following ratings:

Capital One Master Trust

--$19,500,000 Series 2001-6 Class D 'BB';

--$15,000,000 Series 2002-1 Class D 'BB'.

Capital One Multi-Asset Execution Trust

--$375,349,185.38 2002 Collateral Certificate Class D 'BB'

Capital One COBALT Master Note Trust

--$26,902,174 Series 2002-1 Class C 'BB';

--$37,500,000 Series 2004-1 Class B 'BBB';

--$29,464,285 Series 2004-1 Class C 'BB'.

Capital One Mainstreet Master Note Trust

--$17,150,396 Series 2007-1 Class C-1 'BB';

--$17,150,396 Series 2007-2 Class C-1 'BB'.

The ratings above are based on the quality of the receivables pool, the available credit enhancement within each trust, each transaction's legal and cash flow structure and the overall underwriting and servicing capabilities of Capital One.

Each of the master trusts are similar in structure, with credit enhancement in the form of subordinate notes for certain classes, as well as other credit features such as spread accounts. The significant difference between these trusts is the collateral that they finance. Capital One Master Trust (COMT) finances mostly consumer and small business credit card receivables from selected MasterCard and VISA credit card accounts that meet eligibility criteria while the COBALT and Mainstreet trusts finance installment consumer loans and MasterCard and Visa credit card receivables to segmented borrowers, respectively.

The Capital One Multi-Asset Execution Trust (COMET) was created in October 2002 to allow for the sale of a single note series or a multiple note series. The notes issued by COMET Issuance Trust are primarily secured by the collateral certificate, series 2002-CC issued by the Capital One Master Trust.

For more information about COMT and COMET's performance and deal structure, please visit www.fitchratings.com.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.