CORRECTED-(OFFICIAL)-TEXT-Moody's on Advanta 2007-A
(In April 22 release, Moody's corrects rating of Advanta 2007-A Class B notes to "A3.") (The following statement was released by the rating agency)
Up to $7 Million of Asset-Backed Securities Rated.
April 22 - Moody's Investors Service assigned a definitive rating of A3 to the up to $7,000,000 privately placed Series 2007-A Class B notes issued from the Advanta Business Card Master Trust (the "Trust"). The complete ratings action was as follows: Issuer: Advanta Business Card Master Trust, Series 2007-A Up to approximately $7,000,000 Class B notes, rated A3 Wen V. Zhang, an Assistant Vice President in Moody's Structured Finance Group, said the rating is based on the credit quality of the underlying pool of credit card receivables, the transaction's structural protections and the capability of the servicer, Advanta Bank Corp., which is an unrated, wholly-owned subsidiary of Advanta Corp. The assets of the Trust are a pool of MasterCard and, to a limited extent, Visa receivables generated on business purpose credit cards. Some of the benefits of the card include additional cards for company employees at no additional fee, detailed expense reports, ability to earn rewards and access to valuable products offered by alliance partners. Advanta began originating this product in 1994 and has steadily grown the portfolio to its current size of over $6.0 billion in receivables. For more information please see www.moodys.com. (New York Ratings Team)
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