ABCP Rating Affirmation Compilation; Oct. 23-27, 2000.

Business Editors

NEW YORK--(BUSINESS WIRE)--Standard & Poor's

Oct. 31, 2000--Standard & Poor's affirmed the ratings of four asset-backed commercial paper (ABCP) multiseller conduits, for the period of Oct. 23-27, 2000 (see list).

These rating actions were based on Standard & Poor's review of the transactions before they entered the conduits. Financing limits for these transactions totaled $600 million. The commercial paper that the conduits issued was backed by credit cards, commercial loans, and trade receivables.

Year-to-date, including this week's additions, Standard & Poor's has affirmed ratings based on 128 transactions entering 35 conduits of 28 program administrators. Year-to-date, Standard & Poor's has affirmed ratings on transactions totaling approximately $29.87 billion in financing limits. Of this total, 29% were 'A-1'-plus rating affirmations, 70% were 'A-1' rating affirmations, and 1% were 'A-2' rating affirmations. The average transaction size was approximately $233.35 million.

A copy of this report is available on RatingsDirect, Standard & Poor's Web-based credit analysis system, at www.ratingsdirect.com. -- CreditWire

STANDARD & POOR'S ABCP RATING AFFIRMATION COMPILATION(a)

Multiseller conduit        Limit (mil.$)   Collateral     Rating
(Program administrator)
Compass Securitisation               200   Commercial-    A-1+
(Westdeutsche Landesbank                   other
Girozentrale)
Park Avenue Receivables Corp.        150   Trade          A-1
(The Chase Manhattan Bank)                 receivables
Blue Ridge Asset Funding Corp.       150   Trade          A-1
(Wachovia Bank, N.A.)                      receivables
Black Forest Funding Corp.           100   Credit cards   A-1
(Bayerische Hypo- und Vereinsbank AG,
New York Branch)
(a)For the period, Oct. 23-27, 2000