DBRS Confirms Ratings on World Financial Network Credit Card Master Note Trust, Series 2009-VFN

DBRS, Inc. (DBRS) has today confirmed its ratings on the notes issued by World Financial Network Credit Card Master Note Trust, Series 2009-VFN as follows:

-- Class A confirmed at AAA (sf)
-- Class M confirmed at AA (sf)

The confirmations take into consideration an amendment for the series that extended its expected maturity. Performance of the transaction has been within expectations for the respective ratings of the tranches.

Furthermore, based on the amendment DBRS confirms its ratings on all other Series issued from the World Financial Network Credit Card Master Note Trust as follows:

--Series 2012-D, Class A confirmed at AAA (sf)
--Series 2012-D, Class M confirmed at AA (sf)
--Series 2012-D, Class B confirmed at A (sf)
--Series 2012-D, Class C confirmed at BBB (sf)

--Series 2013-B, Class A confirmed at AAA (sf)
--Series 2013-B, Class M confirmed at AA (sf)
--Series 2013-B, Class B confirmed at A (sf)
--Series 2013-B, Class C confirmed at BBB (sf)

--Series 2014-B, Class A confirmed at AAA (sf)
--Series 2014-B, Class M confirmed at AA (sf)
--Series 2014-B, Class B confirmed at A (sf)
--Series 2014-B, Class C confirmed at BBB (sf)

--Series 2014-C, Class A confirmed at AAA (sf)
--Series 2014-C, Class M confirmed at AA (sf)
--Series 2014-C, Class B confirmed at A (sf)
--Series 2014-C, Class C confirmed at BBB (sf)

Notes:
The applicable methodology is U.S. Credit Card Asset-Backed Securities, which can be found on our website under Methodologies.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.