Morningstar Credit Ratings Upgrades its Ratings on the Notes Related to Continental Credit Card ABS 2016-1

NEWARK, Del., Sept. 21, 2017 /PRNewswire/ -- Continental Finance Company is pleased to announce that Morningstar Credit Ratings upgraded its ratings on the Class A, B and C notes related to Continental Credit Card ABS 2016-1, LLC.  The upgrades are based on the analysis of the detailed collateral performance, bond-level data, and other information related to the performance of the transaction.  The ratings for each class of notes were determined based on a quantitative and a qualitative analysis utilizing updated information and follows the U.S. Asset-Backed Securitization General Ratings Methodology and U.S. Credit Card Receivables Ratings Methodology.

The original ratings by Morningstar in December 2016 of the Class A, B and C notes were A+, BBB+, and BB+, respectively, whereas the upgraded ratings as of September 14, 2017 are AA, A, and BBB.  According to Continental Finance Company's President, Steve McSorley, "We are delighted to hear the news of the ratings upgrade, and we look forward to being a regular issuer in the asset-back securitization market."

About Continental Finance Company

Founded in 2005, Continental Finance Company ("CFC") is one of America's leading marketers and servicers of credit cards for consumers with less-than-perfect credit. Since the Company's founding, CFC has prided itself on its corporate responsibility to customers in terms of strong customer support, fair treatment, and responsible lending programs.  CFC specializes in providing access to credit products and services to consumers who are largely overlooked by traditional credit card issuers. 

SOURCE Continental Finance Company, LLC