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