2009-11-11 17:03:04 -

Fitch Ratings has affirmed the rating and assigned a Rating Outlook to MBNA America European Structured Offerings No. 7 as follows.

-- EUR asset backed notes at 'AAA'; Outlook Negative.

Fitch has applied the Global Structured Finance Rating Criteria for the review of this transaction. The rating and the Outlook are based on that of the underlying collateral which consists of BA

Master Credit Card Trust II (formerly known as MBNA Master Credit Card Trust II) series 2001-C class A certificates, rated 'AAA' with a Negative Outlook by Fitch. Payments on the bonds are reliant on the cash flow from the underlying assets.

The following applicable criteria report is available on Fitch's web site at ' www.fitchratings.com : '.

'Global Structured Finance Rating Criteria' dated Sept. 30, 2009.

Additional information is available at ' www.fitchratings.com : '.

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS : .

IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE ' WWW.FITCHRATINGS.COM : '.

PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.

Fitch Ratings, New YorkSandro Scenga, +1-212-908-0278 sandro.scenga@fitchratings.com : mailto:sandro.scenga@fitchratings.com Amy
Gan, +1-212-908-0143