Fitch Affirms Currus XIII Limited and Assigns Negative Outlook

2009-11-11 00:45:31 -

Fitch Ratings has affirmed the ratings and assigned Outlooks to Currus XIII Limited as follows.

--$250,000,000 senior facility at 'BBB'; Outlook Negative;

--$3,125,000 subordinated B1 facility at 'BBB'; Outlook Negative;

--$3,125,000 subordinated B2 facility at 'BBB'; Outlook Negative.

Fitch has applied the Global Structured Finance Rating Criteria for the review of this transaction. The ratings are based on the underlying

collateral which consists of credit card asset-backed securities (ABS) currently rated 'AAA' with a Stable Outlook; 'A' with a Stable Outlook and 'BBB' with a Negative Outlook by Fitch Payments under the credit facilities 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 : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. '.

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

Additional information is available at ' www.fitchratings.com : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. '.

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS : cts.businesswire.com/ct/CT?id=smartlink&url=HTTP%3A%2F%2FFIT .. .

IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE ' WWW.FITCHRATINGS.COM : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2FWWW .. '.

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Fitch Ratings, New YorkAmy Gan, 212-908-9143Aoto Kenmochi,
212-908-0867orMedia Relations:Sandro Scenga,
212-908-0278Email: sandro.scenga@fitchratings.com : mailto:sandro.scenga@fitchratings.com