Despite being marketed for several weeks, a $1.4 billion credit card transaction from Providian Financial is being held up by the transfer of servicing rights, sources said, and no firm plan for the transfer had been presented to the rating agencies as of press time last week.

Providian will service the portfolio initially, before randomly distributing the rights to Cardholder Management Services, a unit of CardWorks Inc., and CompuCredit Corp., which is purchasing $1.2 billion of the receivables in a related transaction.

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