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Double-B notes on offer in support of U.K. credit card trusts

With deterioration continuing among U.K. credit card trusts, market players are expecting more deals to follow Barclaycard's GBP111.8 million ($211.8 million) subordinated multi-tranche issue that supports its GBP8.2 billion Gracechurch Card Funding Trust, the first publicly rated double-B U.K. credit card ABS. Capital One executed a similar transaction earlier...

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