GE Capital is issuing two securitizations worth $680 million via the public market.
Moody's Investors Service and Fitch Ratings will both rate the series 2012-4 deal from GE's credit card master note trust. The class A and B notes will be publicly place and have been rated 'AAA'/ 'Aaa' , 'A+'/'A2' by each rating agency respectively. Fitch has rated the class C notes 'BBB+', which will not be offered publicly at issuance.
The issuer has simultaneously began marketing series 2012-5 from its master trust. Fitch will rate the deal and has assigned the class A and B notes, which will be publicly placed, 'AAA' and 'A+' rating respectively. The class C notes, which will not be marketed publicly, have been rated 'BBB+'.
According to market reports the deal is expected to price this week. JPMorgan Securities and the Royal Bank of Canada are joint book runners on the deal.
