GE Capital Issues 2nd January Credit Card ABS

January 26, 2012, 4:37 p.m. EST 1 Min Read

GE Capital is in the market with GE Capital Credit Card Master Note Trust Series 2012-2 worth approximately $563 million.

The deal's class A notes and class B notes have been rated 'Aaa' and 'A2' by Moody's Investors Service. The rating agency said the deal is backed by private label and co-branded credit card receivables generated on accounts originated and underwritten by GE Capital Retail Bank.

Retailers which are currently included in the structures portfolio are, among others, JCPenney, Lowe's, Sam's Club, Wal-Mart, Dillard's, Gap, Belk and Chevron. Approximately 63% of the receivables in the portfolio emanate from accounts with an age greater than 60 months.

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This latest deal follows the issuer's launch last week of its $606mn GE Capital Credit Card Master Note Trust Series 2012-1.

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