Press Release

DBRS Discontinues Ratings on Synchrony Credit Card Master Note Trust, Series 2015-VFN 1

Consumer Loans & Credit Cards

April 12, 2017

DBRS, Inc. (DBRS) has today discontinued the outstanding ratings on the Class A Notes and Class B Notes issued by Synchrony Credit Card Master Note Trust, Series 2015-VFN 1, due to repayment.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The principal methodology is the DBRS Master U.S. ABS Surveillance Methodology, which can be found on dbrs.com under Methodologies.

The rated entity or its related entities did participate in the rating process. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities.

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

Ratings

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
12-Apr-17	Class A Notes	Discontinued	--	Disc.-Repaid	US
12-Apr-17	Class B Notes	Discontinued	--	Disc.-Repaid	US

Synchrony Credit Card Master Note Trust, Series 2015-VFN 1

Class A Notes

Date Issued:Apr 12, 2017
Rating Action:Disc.-Repaid
Ratings:Discontinued
Trend:--
Rating Recovery:
Issued:US

Class B Notes

Date Issued:Apr 12, 2017
Rating Action:Disc.-Repaid
Ratings:Discontinued
Trend:--
Rating Recovery:
Issued:US

ALL MORNINGSTAR DBRS RATINGS ARE SUBJECT TO DISCLAIMERS AND CERTAIN LIMITATIONS. PLEASE READ THESE DISCLAIMERS AND LIMITATIONS AND ADDITIONAL INFORMATION REGARDING MORNINGSTAR DBRS RATINGS, INCLUDING DEFINITIONS, POLICIES, RATING SCALES AND METHODOLOGIES.

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