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Article: S&P Affirms Chevy Chase Credit Card-Backed Certificate Ratings

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PR Newswire
Article date:
September 3, 1998
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NEW YORK, Sept. 3 /PRNewswire/ -- Standard & Poor's today affirmed its ratings on outstanding certificates issued by Chevy Chase Master Card Trust and Chevy Chase Master Card Trust II (see table below).

The rating affirmations follow today's announcement that First USA Inc. will purchase Chevy Chase Bank's credit card portfolio.

First USA, a unit of BANC One Corp., announced today it has purchased the entire credit card bank portfolio and operations of Chevy Chase Bank FSB. The purchased portfolio includes $4.9 billion in managed credit card loans and includes an agreement that First USA will assume responsibility for Chevy Chase Bank's partnership programs. ... 







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