Fitch to Rate GE Capital Credit Card Master Note Trust, Series 2012-2; Presale Issued

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings expects to assign the following ratings to GE Capital Credit Card Master Note Trust's asset-backed notes, series 2012-2:

--$500,000,000 class A fixed-rate 'AAAsf'; Outlook Stable;

--$63,091,483 class B fixed-rate 'A+sf'; Outlook Stable.

Fitch's expected ratings are based on the underlying receivables pool, available credit enhancement, GE Capital Retail Bank's underwriting, General Electrical Capital Corporation's servicing capabilities, and the transaction's legal and cash flow structures, which employ early redemption triggers.

The presale report is available to all investors on Fitch's website at 'www.fitchratings.com'. For more information about Fitch's comprehensive subscription service FitchResearch, which includes all presale reports, surveillance, and credit reports on more than 20 asset classes, contact product sales at +1-212-908-0800 or at 'webmaster@fitchratings.com'.

Additional information is available at 'www.fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.

Applicable Criteria and Related Research:

--'Global Credit Card ABS Rating Criteria' (June 28, 2011);

--'Global Structured Finance Rating Criteria' (Aug. 4, 2011).

Applicable Criteria and Related Research: GE Capital Credit Card Master Note Trust, Series 2012-2 -- (US ABS)

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=668993

Global Credit Card ABS Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=639672

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=646569

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