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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 The report is also available on Standard & Poor's Ratings Services Web site at Under Presale Reports, select Structured Finance, then Asset-Backed Securities.

Copyright 2002, Standard & Poor's Ratings Services
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Publication:Business Wire
Date:Sep 13, 2002
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