The Royal Bank of Scotland plc and NatWest are marketing a $500 million credit card ABS under its Arran Cards Funding program.

The deal has been assigned a provisional rating by Moody's Investors Service of 'Aaa' for its single tranche offering.  It's the second issue to come from the Arran Cards Funding plc medium-term note program and are backed by credit card receivables from the Arran Cards Receivables Trust.

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