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BA Credit Card Trust, BAseries -- Moody's: No rating impact on Bank of America's card ABS following amendment to the revolving credit agreement

·9 min read

Announcement: Moody's: No rating impact on Bank of America's card ABS following amendment to the revolving credit agreement

Global Credit Research - 30 Dec 2020

New York, December 30, 2020 -- Moody's Investors Service announced today that the execution on December 30, 2020 of the First Amendment to the Second Amended and Restated Revolving Credit Agreement ("Amendment") would not, in and of itself and as of this time, result in the downgrade or withdrawal of the ratings assigned to any class of the outstanding notes issued by BA Credit Card Trust ("Trust").

The Amendment to the Second Amended and Restated Revolving Credit Agreement is credit neutral and amends the benchmark interest rate used for the intercompany loan between Bank of America, National Association and the transferor, BA Credit Card Funding, LLC.

Because the Amendment has no negative credit impact, Moody's has determined the execution of Amendment, in and of itself and at this time, will not result in the downgrade or withdrawal of the ratings assigned to any class of outstanding notes issued by the trust. However, Moody's opinion addresses only the credit impact associated with the Extension, and Moody's is not expressing any opinion as to whether the Amendment has, or could have, other non-credit related effects that may have a detrimental impact on the interests of noteholders and/or counterparties.

This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history.

Puloma Mukherjee Analyst Structured Finance Group Moody's Investors Service, Inc. 250 Greenwich Street New York, NY 10007 U.S.A. JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653 Pedro Sancholuz Ruda Vice President - Senior Analyst Structured Finance Group JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653 Releasing Office: Moody's Investors Service, Inc. 250 Greenwich Street New York, NY 10007 U.S.A. JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653

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