BA MCCT Cls A/B Ser 99-B, 99-C Expect `AAA'/`A' By Fitch IBCA.

NEW YORK--(BUSINESS WIRE)--July 22, 1999--

BA Master Credit Card Trust's series 1999-B's $865 million class A floating-rate asset-backed certificates and $55 million class B floating-rate asset-backed certificates are expected to be rated `AAA' and `A', respectively, by Fitch IBCA. Series 1999-C's $432.5 million class A floating-rate asset-backed certificates and $27.5 million class B floating-rate asset-backed certificates are also expected to be rated `AAA' and `A', respectively.

The certificates are backed by a pool of credit card receivables generated under Bank of America MasterCard and Visa accounts. Fitch IBCA's expected ratings are based on the high quality of the collateral pool, available credit enhancement, Bank of America's servicing expertise, and the sound legal and cash flow structures. Additionally, Fitch IBCA affirms the ratings assigned to the outstanding series indicating that the issuance of these two new series will not adversely affect the ratings.

Credit enhancement for both series' class A certificates is comprised of class B subordination, which accounts for 5.5% of the total invested amount, and subordination of the collateral interest, which is equal to 8.0% of the invested amount. Class B investors are protected from enhancement, which stems from 8.0% subordination of the collateral interest. The collateral interest represents an undivided interest in the trust subordinate in payment rights to class A and class B.

Several economic and credit stress scenarios were devised by Fitch IBCA to determine appropriate credit enhancement levels. The scenarios simultaneously stress yield, chargeoff, and monthly payment rate steady-state assumptions. In addition, to address the interest rate risk associated with uncapped floating-rate coupons, the coupon is stressed to worst case London Interbank Offered Rate (LIBOR) levels without a 1:1 adjustment to yield.

Under the available enhancement, class A withstands a 35% decrease in yield, a 45% decline in payment rates and chargeoffs increasing to 34.5% and still makes full and timely payments of investor principal and interest. Class B sustains a 25% decrease in yield, a 35% decline in payment rates, and chargeoffs increasing to more than 27.0% without suffering a principal or interest loss.

Early amortization events protect certificateholders from prolonged exposure to deterioration in portfolio performance and/or a transferor/servicer default. Occurrence of an amortization event will trigger a rapid payout of principal and investors may be repaid earlier or, in rare circumstances, later than expected.

Each series is structured with a revolving period followed by a variable accumulation period. Series 1999-B's class A and class B certificateholders will receive monthly interest payments at 15 and 40 basis points above one-month LIBOR throughout the revolving and accumulation periods and on the expected maturity date, provided an early payout event does not occur. Following the variable accumulation period, principal is expected to be paid to both class A and class B certificateholders on the July 2002 distribution date. The series termination date is August 2004.

Series 1999-C's class A and class B investors will receive monthly interest payments at one-month LIBOR plus 25 and 50 basis points, respectively. Investors will receive interest payments throughout the accumulation period and on the scheduled payment date, July 2006. Series 1999-C's termination date is August 2008.

Both series are part of Group One and will share excess principal and finance charge collections with other Group One series.