Fitch Rates World Financial Network Credit Card Master Note Trust, Series 2009-C

NEW YORK — Fitch rates World Financial Network Credit Card Master Note Trust, series 2009-C fixed-rate asset-backed notes as follows:

The class A notes of series 2009-C are publicly offered and will be eligible collateral for a loan under the Term Asset-Backed Loan Facility (TALF) provided by the Federal Reserve Bank of New York.

Fitch’s ratings are based on the underlying collateral pool, available credit enhancement, World Financial Network National Bank’s (WFNNB) underwriting and servicing capabilities, and the transaction’s financial and legal structures that employ early amortization triggers.