Comenity Bank, formerly World Financial Network Bank, plans to issue $416.6 million credit card securitization deal backed by receivables from the issuer’s private-label credit card accounts, according to Fitch Ratings.
Fitch plans to rate the class A notes AAA’; the class M notes AA’; the class B notes A+’; and the class C notes BBB’. The class D notes will not be rated. The class A notes of series 2014-A will be publicly offered and the class M, B, C and D notes will be retained by the originator. The credit enhancement supporting class A notes totals 28.00%.