Moody's: No rating impact on Discover Card ABS following delays in commencement of accumulation periods

New York, August 16, 2016 -- Moody's Investors Service announced today that the delays in the commencement of the accumulation periods described in the Notices of Delay in Commencement of Accumulation Periods for the Discover Card Execution Note Trust (the Trust), executed on 16 August 2016 (the Accumulation Delays), in and of themselves and at this time, will not result in a reduction, withdrawal, or placement under review for possible downgrade of the ratings currently assigned to any class of outstanding notes issued by the trust (together, the Outstanding Notes).

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