Morningstar DBRS Discontinues Credit Rating on Purple Master Credit Cards

DBRS Ratings GmbH (Morningstar DBRS) discontinued its AAA (sf) credit rating on the Series 2023-1, Class A Notes issued by Purple Master Credit Cards.

The discontinuation reflects the full repayment of the Class A Notes on the 25 February 2025 payment date. Prior to the repayment in full, the outstanding principal balance of the Class A Notes was EUR 550,000,000.00.

The principal methodology applicable to the credit rating is "Rating European Consumer and Commercial Asset-Backed Securitisations" (18 September 2024) https://dbrs.morningstar.com/research/439583.

In Morningstar DBRS' opinion, a Discontinued-Repaid credit rating action does not warrant the application of the entire principal methodology.

For details on analytical and regulatory disclosures please refer to the latest rating action press release published for this transaction: https://dbrs.morningstar.com/research/448435.

Lead Analyst: Kevin Chiang, Senior Vice President
Rating Committee Chair: Paolo Conti, Associate Managing Director
Initial Rating Date: 6 February 2023

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A description of how Morningstar DBRS analyses structured finance transactions and how the methodologies are collectively applied can be found at: https://dbrs.morningstar.com/research/439604.

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