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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 today assigned 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 (single-'A'-plus/'A-1') as originator, 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 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.

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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