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STANDARD CREDIT CARD MASTER TRUST 1992-2 RATED 'AAA/A+' BY FITCH -- FITCH FINANCIAL WIRE --

 STANDARD CREDIT CARD MASTER TRUST 1992-2 RATED 'AAA/A+' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, June 26 /PRNewswire/ -- Standard Credit Card Master Trust I's (SCCMT) Group One Series 1992-2 class A certificates are rated "AAA" and the class B certificates are rated "A+" by Fitch, it was announced today. The ratings on Series 1991-1 through 1991-6 class A at "AAA" and class B at "A+" are affirmed.
 Series 1992-2 issued class A participation certificates of $1.5 billion at a coupon rate of 5.875 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 a 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 first class A, then class B.
 Series 1992-2 issued class B participation certificates of $95.8 million at a coupon rate of 6.125 percent. As a result of the new structure, the size of the class B participation has been reduced to 6 percent of the series from 11 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 new structure also 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 B certificateholders, respectively. The receivables level will remain the same despite the reduction in the class A and class B invested amounts creating overcollateralization. The overcollateralization replaces the cash collateral as credit enhancement.
 Due to the 7 percent overcollateralization, collections will be allocated to investors as if the reduction had not occurred while covering proportionately fewer expenses. This new feature combines an immediate partial payout with overcollateralization. This creates the potential for a faster return of investor principal than available with the fast-pay mechanism already included in master trust issues.
 Finance charges for series 1992-2 will be shared with the other series in the master trust in the same manner as previously issued series from group one. Investor interest is payable semi-annually on the 7th of July and January beginning Jan. 7, 1993.
 In addition, series 1992-2 will have the benefit of the principal reallocation feature available to all series issued from group one to date. Series 1992-2 should begin accumulating principal to pay class A while four other series in group one are still revolving. Principal allocable to the revolving series may be re-directed to accumulating series providing more assurance of timely principal payment. The class A expected final payment date is July 7, 1995. Class B investors are expected to be repaid on Aug. 7, 1995, one month following the repayment of class A.
 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 $10.3 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- 6/26/92
 /CONTACT: Gracen Fraser, 212-908-0520, or J. Douglas Murray, 212-908-0518, or Gregory G. Raab, 212-908-0536, all of Fitch/
 /NOTE TO THE EDITOR: For copies of Fitch's research report, to be available July 6, call (800) 75-FITCH/ CO: Standard Credit Card Master Trust I ST: New York IN: FIN SU: RTG


TS -- NY042 -- 4232 06/26/92 12:54 EDT
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Date:Jun 26, 1992
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