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Purple Master Credit Cards Notes 2018-1 -- Moody's has assigned provisional (P)Aaa (sf) to French credit card ABS to be issued by Purple Master Credit Cards FCT

The issuance of Class A 2018-1 Notes (Class A Notes) is the third issuance under Purple Master Credit Card's note issuance program. Today's rating action reflects the characteristics of the rated Notes which are ultimately backed by designated credit-card receivables owned by the Issuer. The assets comprise receivables arising under designated revolving credit-card accounts that were originated by Natixis Financement (NR) ("NF"), a member of Groupe BPCE, to obligors located in France.