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STANDARD CREDIT CARD MASTER TRUST 1993-2 RATED 'AAA/A+' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Sept. 2 /PRNewswire/ -- Standard Credit Card Master Trust I (SCCMT) Group One Series 1993-2 class A certificates are rated "AAA" and the class B certificates are rated "A+" by Fitch. The ratings on Series 1991-1 through 1991-6, 1992-2 and 1992-3 class A at "AAA" and class B at "A+" are affirmed. In addition, the Series 1992-1 and 1993-1 class B certificates' ratings of "A+" and McKenna Triangle National Corporation's commercial paper rating of "F-1+" are affirmed.
 Series 1993-2 issued 10 year fixed rate class A participation certificates of $750 million at a coupon rate of 5.95 percent. The class A rating reflects the high quality of the receivables from Visa and MasterCard credit card accounts and credit enhancement totaling 11 percent of the series. Credit enhancement is provided, in order, by the 5 percent shared cash collateral account (CCA) and the subordination of the 6 percent class B participation. The shared CCA is in the first loss position supporting Class A then Class B.
 Series 1993-2 also issued $48 million class B participation certificates at a coupon rate of 6.15 percent. The class B rating reflects the 5 percent shared CCA and a 2 percent CCA available solely to support class B. Class B defaults may be covered by the amounts available in the shared CCA after class A requirements are met.
 The 5 percent shared CCA and the 2 percent Class B CCA are provided by a deposit made by a highly rated financial institution into the cash collateral account.
 As with Series 1992-2 and Series 1992-3, Series 1993-2's structure contains an accelerated payout feature if certain "economic" amortization event triggers are breached. These triggers are linked to the performance of the receivables. If an economic amortization event occurs, the amounts available in the 5 percent shared CCA and the 2 percent class B CCA will be drawn and used immediately to partially pay class A and class B investors, respectively. The receivables level will remain the same despite the reduction in the Class A and Class B invested amounts creating over-collateralization. The over- collateralization replaces the CCA as credit enhancement. Principal payments will continue to be made to class A until class A is repaid, then to class B.
 Investor interest is payable semi-annually on the 7th of March and September beginning March 7, 1994. The series will revolve for 108 months then begin accumulating principal, subject to the controlled amortization amount of $62.5 million, during the next 12 months.
 The class A expected final payment date is Sept. 7, 2003. Class B is expected to be repaid on Oct. 7, 2003. Finance charges for series 1993-2 will be shared with the other series in the master trust in the same manner as previously issued series from group one. The master trust's principal reallocation feature will also be available to Series 1993-2.
 The sellers are Citibank (South Dakota), N.A. and Citibank (Nevada), N.A. The aggregate amount of receivables in the accounts currently included in the trust is $14.7 billion. Citibank (South Dakota), which is an excellent servicer, is responsible for servicing, managing and making collections on the receivables, Citibank services over $30 billion in credit card receivables.
 -0- 9/2/93
 /CONTACT: Gracen Fraser, 212-908-0520, or David R. Howard, 212-908-0677, both of Fitch/


CO: Standard Credit Card Master Trust I ST: IN: FIN SU: RTG

TS -- NY061 -- 8451 09/02/93 13:11 EDT
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Publication:PR Newswire
Date:Sep 2, 1993
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