NEW YORK -- Fitch Investors Service Inc. said it has given a triple-A rating to MBNA America Bank's $500 million Master Credit Card Trust asset-backed certificates series 1992-1.
"The rating is based on the strength of the MasterCard and Visa receivables pool, the excellent servicing capabilities provided by MBNA America Bank, the sound legal structure, and the 10% cash collateral account, Fitch said.
The rating agency also affirmed the triple-A rating of MBNA's Master Credit Card Trust, Series 1991-1, issued Sept. 25, 1991.
"As of March 30, 1992, the amount of receivables in the trust was approximately $2.6 billion, up from the initial pool size of $1.6 billion," Fitch said. MBNA's maturing trust 1987 A contributed about half of the $1 billion in receivables added on March 30 of this year.