Continental adds volume to shrinking credit card ABS sector
General purpose credit card issuer Continental Finance Company is returning to the ABS market with a $127m deal, adding volume to a sector that has experienced a considerable drop in issuance this year.
Morningstar Credit Ratings and Kroll Bond Rating Agency both assigned an A rating to the class ‘A’ notes and a triple-B rating to the class ‘B’ notes. This is the first time Kroll has rated a deal from Continental. For the ‘C’ tranche, Morningstar assigned a BB rating,
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