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Fitch Rates GE Capital Credit Card Master Note Trust, Series 2012-4

Fitch Ratings assigns the following ratings to GE Capital Credit Card Master Note Trust's asset-backed notes, series 2012-4:

--$350,000,000 class A floating-rate 'AAAsf'; Outlook Stable;

--$50,491,803 class B floating-rate 'A+sf'; Outlook Stable;

--$33,278,689 class C floating-rate 'BBB+sf'; Outlook Stable.

Fitch's ratings are based on the underlying receivables pool, available credit enhancement, GE Money Bank's underwriting, General Electrical Capital Corporation's servicing capabilities, and the transaction's legal and cash flow structures, which employ early redemption triggers.

Additional information is available at 'www.fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.

Applicable Criteria and Related Research:

--'Global Credit Card ABS Rating Criteria' (June 28, 2011);

--'Global Structured Finance Rating Criteria' (June 6, 2011).

Applicable Criteria and Related Research:

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679923

Global Credit Card ABS Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=639672

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.

Contacts:

Fitch Ratings
Sandro Scenga, +1-212-908-0278
Media Relations, New York
sandro.scenga@fitchratings.com
or
Primary Analyst:
Herman C. Poon, +1-212-908-0847
Director
Fitch, Inc.
One State Street Plaza
New York, NY 10004
or
Secondary Analyst:
Brian Perry, +1-212-908-9142
Analyst
or
Committee Chairperson:
Steven Stubbs, +1-212-908-0676
Senior Director
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