Metris deals upgraded on defeasement

The Metris Companies saw two classes of its Metris Master Trust upgraded by Moody’s Investors Service today, upon the completion of its previously announced defeasement of its series 2001-4 transaction. As of June 28, Moody’s reports, $372.9 million of 2001-4 class A notes, as well as $66.29 million of 2001-4 class B notes have had cash equaling 101% of par value set aside in a segregated trust account and were subsequently upgraded to ‘Aaa’.