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S&P Asgn Bank One Issuance Tr A,2002-3, Nts Prelm Rtg.



Business Editors

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

Sept. 13, 2002-- 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.
 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 triple-'A' rating to Bank One Issuance Trust's $500 million ONEseries class A(2002-3) notes.

The preliminary rating is based on information as of Sept. 13, 2002. Subsequent information may result in the assignment of a final rating that differs from the preliminary rating.

The preliminary rating reflects the experience of First USA Bank N.A. Wilmington Wilmington.

1 City (1990 pop. 71,529), seat of New Castle co., NE Del., on the Delaware River and tributary streams, the Christina and the Brandywine; settled 1638, inc. as a city 1832.
 (single-'A'-plus/'A-1') as originator Originator

A bank, savings and loan, or mortgage banker that initially made a mortgage loan that is part of a pool. Also, an investment bank that has worked with the issuer of a new securities offering from the beginning and is usually appointed manager of the underwriting
, administrator, and servicer; the strong and stable portfolio performance of First USA Credit Card Master Trust; the satisfaction of current issuance tests; and the sound structural and legal provisions.

As of the issuance date of the class A(2002-3) notes, the aggregate adjusted outstanding dollar principal amount of the ONEseries will be approximately $3.25 billion, including a previous issuance of class B and C notes. This is the third class A issuance out of this program.

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 this transaction is available on RatingsDirect, Standard & Poor's Web-based credit analysis system, at www.ratingsdirect.com. The report is also available on Standard & Poor's Ratings Services 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.
.

Copyright 2002, Standard & Poor's Ratings Services
COPYRIGHT 2002 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2002, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Sep 13, 2002
Words:213
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