Chase CCMT 2001-2 $595.238MM Cls A/B/C Exp `AAA/A/BBB' By Fitch.Business Editors NEW YORK--(BUSINESS WIRE)--June 11, 2001 Chase Credit Card Master Trust's $500 million class A floating-rate asset backed notes, series 2001-2 are expected to be rated `AAA' by Fitch. The corresponding $41.666 million class B floating-rate asset backed notes, series 2001-2 are expected to be rated `A' and the $53.572 million class C floating-rate asset backed notes are expected to be rated `BBB'. Class A and B noteholders will receive monthly interest payments of 1mL+0.12% and 1mL+0.36% per annum Per annum Yearly. , respectively and Class C noteholders will receive monthly interest payments of 1mL+0.90% per annum. Interest will be paid monthly on the 15th to class A, B, and C commencing on July 16, 2001. 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 totaling 16% of the invested amount is available for class A noteholders through a 9% subordination of class C and 7% class B subordination. Class B benefits from the 9% Class C subordination. Fitch's expected note ratings are based on the notes' interest in the assets of the owner trust, which include the series certificate issued by the Chase Credit Card Master Trust and the Owner Trust Spread Account. The ratings also account for the series certificate's security interest in the assets of the master trust, the quality of the master trust's receivables, available credit enhancement, Chase Manhattan Bank's underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. and servicing capabilities, as well as the transaction's solid legal and cash flow structures. In addition, the class C Note ratings are also based on funds available in the Owner Trust Spread Account, and the ability of excess spread to be trapped in the Owner Trust Spread Account. The receivables pool was generated from accounts originated by both the former Chemical and Chase Manhattan banks The Chase Manhattan Bank, now part of JPMorgan Chase, was formed by the merger of the Chase National Bank and the Bank of the Manhattan Company in 1955. The bank is headquartered in New York City. and the combined entity since their merger. Series 2001-2 is the 27th transaction issued from the trust. The ratings address the likelihood of investors receiving full and timely interest payments in accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.[] As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with terms of the underlying documents and full repayment of principal by the September 2008 termination date termination date, n See expiration date. , not the likelihood of principal repayment by the scheduled note payment date of May 2006 for class A and June 2006 for class B and C. For a full report on Chase CCMT CCMT Canadian Council of Muslim Theologians CCMT Canadian Council of Ministers of Transport CCMT Combined Countermeasures Tow CCMT Computer Controlled Microwave Tuner , series 2001-2 and Surveillance information please refer to Fitch's web site at `www.fitchratings.com'. |
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