Asgns Prelim Rtngs to Fleet CC Master Trust II.NEW YORK--(BUSINESS WIRE)--Standard & Poor's-- Nov. 1, 1999-- Standard & Poor's today assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. its preliminary ratings to Fleet Credit Card Master Trust II's series 1999-C US$300 million asset-backed certificates and series 1999-D US$600 million asset-backed certificates (see list). The preliminary ratings are based on information as of Nov. 1, 1999. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings. The preliminary ratings reflect: -- Series 1999-C credit enhancement Credit Enhancement A method whereby a company attempts to improve its debt or credit worthiness. Notes: Credit enhancements take many different forms. An example of a credit enhancement would be conversion rights added on to a debt instrument in order to lower the issuing levels of 15.75% for class A and 9% for class B, -- Series 1999-D credit enhancement levels of 18.5% for class A and 11% for class B, -- The credit quality of the underlying pool of credit card receivables, -- The structural protections of the transactions, and -- The sound legal structure. Standard & Poor's ratings address the timely payment of monthly interest, beginning in December 1999 for all classes, and ultimate repayment of principal by the series termination date termination date, n See expiration date. of April 16, 2007. A copy of Standard & Poor's complete presale pre·sale n. 1. The period before something, such as a work of art, is available for sale to the public. 2. An exclusive or private sale held before an advertised sale. report for both transactions is available on Standard & Poor's Ratings Services Ratings Service A company, such as Moody's or Standard & Poor's, that rates various debt and preferred stock issues for safety of payment of principal, interest, or dividends. Web site at www.standardandpoors.com/ratings. Under Presale Reports, select Structured Finance, then Asset-Backed Securities Asset-backed security A security that is collateralized by loans, leases, receivables, or installment contracts on personal property, not real estate. asset-backed security A debt security collateralized by specific assets. . -- CreditWire -0-
PRELIMINARY RATINGS ASSIGNED
Issue Rating
Series 1999-C
Class A asset-backed notes AAA
Class B asset-backed notes A
Series 1999-D
Class A asset-backed notes AAA
Class B asset-backed notes A
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