Bank of Montreal is tapping the U.S. securitization market with a credit card deal for the first time this year, according to Moody’s Investors Service.

The deal, Master Credit Card Trust II (MCCT II) 2016-1, has yet to be sized, nor has the maturity been determined; it will consists of three tranches of notes: Moody’s plan to assign an Aaa rating the senior class A notes; Aa3 to the class B notes; and Baa1 to the class C notes.   

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