Eagle Credit Card Trust announces intent to add additional enhancement for Series 2010-2 and Series 2013-1 Notes

TORONTO, Oct. 1, 2014 /CNW/ - Eagle Credit Card Trust ("Eagle") announced today that it intends to enter into arrangements to provide additional credit enhancement for the Eagle Series 2010-2 and Series 2013-1 Notes.  The additional credit enhancement will take the form of one or more letters of credit and will only be available so long as Moody's continues to rate the Eagle Notes.  There can be no assurance that Moody's will continue to rate the Eagle Notes and Eagle may request the withdrawal of the Moody's ratings from the Eagle Notes in the future.

Forward-looking statements require certain assumptions and are subject to inherent risks and uncertainties, which give rise to the possibility that Eagle's expectations or conclusions will not prove to be accurate and that such assumptions may not be correct. Readers should not to place undue reliance on these statements as a number of risk factors could cause Eagle's decisions to differ materially from its intentions expressed in this press release. These factors - which are not exhaustive and many of which are beyond Eagle's control and the effects of which can be difficult to predict - include: general economic and financial market conditions in Canada; the impact of changes in laws and regulations; credit risk; market risk; and liquidity risk and other risks discussed in Eagle's Annual Information Form dated April 22, 2014 and in its Management's Discussion and Analysis dated August 27, 2014.

When relying on Eagle's forward-looking statements to make decisions with respect to Eagle, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, Eagle does not undertake to update any of its forward-looking statements.

SOURCE: Eagle Credit Card Trust

For further information, please contact: Felix Wu, CFO, PC Bank, [phone].