Credit Rating Report

World Financial Network Credit Card Master Note Trust Series 2018-A: Rating Report

Consumer Loans & Credit Cards

Summary

DBRS, Inc. (DBRS) finalized its provisional ratings on the following classes of notes (the Series 2018-A Notes) issued by World Financial Network Credit Card Master Note Trust (the Issuing Entity):

-- $525,000,000 Class A Notes rated AAA (sf)
-- $40,250,000 Class M Notes rated AA (sf)
-- $26,250,000 Class B Notes rated A (high) (sf)

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