Bank of America Merrill Lynch

While securitization performance improved over last year on a quarterly basis, the year-to-date measure dipped compared with 2022, following expectations.

The three class A notes have initial hard credit enhancement that amounts to 36%, and consists of over-collateralization, the reserve account (with an initial coverage amount of 1%) and subordination of all notes, except class G.

New issuance of U.S. collateralized loan obligations reached $11.9 billion across 24 deals, taking year-to-date volume past $72.3 billion, according to Thomson Reuters LPC. The eight-month total is higher than the total issuance for all of 2016.

BA Credit Card Trust 2017-2 is an offering of three-year of Class A notesinitially sized at $500 million; it comes six months after the bank's initial trip the securitization market of the year, which raised $2 billion.