Continental Finance Co., a consumer-finance company headquartered in Wilmington, Delaware, is marketing $65 million of bonds backed entirely by subprime credit card receivables, according to Morningstar Credit Ratings.

The transaction, dubbed Continental Credit Card ABS 2016-1, will issue three classes of notes with preliminary ratings from Morningstar: a $40.7 million tranche of class A notes with a weighted average life of one year is rated A+, a $13.58 million tranche of class B notes with a WAL of 2.3 years is rated BBB+, and a $10.18 million tranche with a WAL of 3.3 years is rated BB+.

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