Fitch to Rate World Financial Network Credit Card Master Note Trust, Series 2013-A; Presale Issued

NEW YORK--()--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.

The presale report is available to all investors on Fitch's corporate site 'www.fitchratings.com'. For more information about Fitch's comprehensive subscription service FitchResearch, which includes all presale reports, surveillance, and credit reports on more than 20 asset classes, contact product sales at +1-212-908-0800 or at 'webmaster@fitchratings.com'.

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)

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=701049

Global Credit Card ABS Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=681533

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679923

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Contacts

Fitch Ratings
Primary Analyst
Lauren Tierney
Associate Director
+1-212-908-9168
Fitch Ratings, Inc.
One State Street Plaza
New York, NY 10004
or
Committee Chairperson
Steven Stubbs
Senior Director
+1-212-908-0676
or
Media Relations
Sandro Scenga
+1-212-908-0278
sandro.scenga@fitchratings.com

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Contacts

Fitch Ratings
Primary Analyst
Lauren Tierney
Associate Director
+1-212-908-9168
Fitch Ratings, Inc.
One State Street Plaza
New York, NY 10004
or
Committee Chairperson
Steven Stubbs
Senior Director
+1-212-908-0676
or
Media Relations
Sandro Scenga
+1-212-908-0278
sandro.scenga@fitchratings.com