Banc One Corp. said it has been meeting with Moody's Investors Service, Standard & Poor's, and three banks that offer credit enhancement to consider actions to avert an early payout or rating downgrading for securities issued by its master trust.

Last month, Moody's placed on review for possible downgrading $2.66 billion of asset-backed securities as a result of increasing chargeoffs in the master trust.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.