NEW YORK--(BUSINESS WIRE)--Fitch Ratings expects to assign the following ratings to World Financial Network Credit Card Master Note Trust's asset-backed notes, series 2013-A:
--$375,000,000 class A fixed-rate 'AAAsf'; Outlook Stable;
--$18,750,000 class M fixed-rate 'AAsf'; Outlook Positive;
--$23,750,000 class B fixed-rate 'A+sf'; Outlook Positive;
--$62,500,000 class C fixed-rate 'BBBsf'; Outlook Positive;
--$20,000,000 class D fixed-rate 'NR'.
Fitch's ratings are based on the underlying receivables pool, available credit enhancement, World Financial Network Bank's underwriting and servicing capabilities, and the transaction's legal and cash flow structures, which employ early redemption triggers.
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Additional information is available at 'www.fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.
Applicable Criteria and Related Research:
--'Global Credit Card ABS Rating Criteria' (June 22, 2012);
--'Global Structured Finance Rating Criteria' (June 6, 2012).
Applicable Criteria and Related Research: World Financial Network Credit Card Master Note Trust, Series 2013-A (US ABS)
Global Credit Card ABS Rating Criteria
Global Structured Finance Rating Criteria