NEW YORK, Feb. 14 /PRNewswire/ -- Standard & Poor's today assigned its
preliminary triple-'A' rating to Citibank Credit Card Issuance Trust's
$1 billion floating-rate class 2002-A2 notes of February 2005.
The preliminary rating is based on information as of Feb. 14, 2002.
Subsequent information may result in the assignment of a final rating that
differs from the preliminary rating.
The preliminary rating reflects the strength and experience of Citibank
S.D. N.A. (double-'A'/Stable/'A-1'-plus) as seller, servicer, and originator
of the Issuance Trust and Citibank Nev. N.A. (double-'A'/Stable/'A-1'-plus) as
seller and originator of the Issuance Trust; the strong and stable portfolio
performance of Citibank Credit Card Master Trust I; satisfaction of certain
issuance conditions; 12.25% credit support provided by the class B notes
(5.25%) and the class C notes (7%); and sound structural and legal provisions.
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 http://www.ratingsdirect.com. The report is also available on
Standard & Poor's Ratings Services Web site at
http://www.standardandpoors.com/ratings. Under
Presale Reports, select Structured Finance, then Asset-Backed Securities.
SOURCE Standard & Poor's
 back to top
Related links:
http://www.standardandpoors.com
http://www.ratingsdirect.com
CONTACT:
Bonnie Lee Tillen, +1-212-438-2624, Ildiko
Szilank, +1-212-438-2614, or Michael Binz, +1-212-438-2401, all
of Standard & Poor's
|
