10-D 1 form_10d.htm FORM 10-D

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
 
FORM 10-D
 
 
 
 
ASSET-BACKED ISSUER
DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934

For the monthly distribution period from March 1, 2017 to March 31, 2017
 
 
 
 
Commission File Number of issuing entity 333-166240-01, 333-189182-01 and 333-208463-01
Central Index Key Number of issuing entity: 0001282663
 
World Financial Network Credit Card Master Note Trust
(Exact name of issuing entity as specified in its charter)

Commission File Number of depositor: 333-166240, 333-189182 and 333-208463
Central Index Key Number of depositor: 0001139552

WFN Credit Company, LLC
(Exact name of depositor as specified in its charter)
 
Central Index Key Number of sponsor (if applicable): 0001007254
 
Comenity Bank
(Exact name of sponsor as specified in its charter)
 
 
 
Cynthia L. Hageman  (214) 494-3000
(Name and telephone number, including area code, of the person to contact in connection with this filing)
 
Delaware
31-1772814
(State or other jurisdiction of incorporation
or organization of the issuing entity)
(I.R.S. Employer
Identification No.)
 
 
One Righter Parkway, Suite 100
Wilmington, Delaware
19803
(Address of principal executive offices of issuing entity)
(Zip Code)

(302) 529-6140
(Telephone number, including area code)

N/A
(Former Name, former address, if changed since last report)
 
 
 
 
 
Title of Class
Registered/reporting pursuant to (check one)
 
Name of exchange
(If Section 12(b))
Section 12(b)
Section 12(g)
Section 15(d)
Series 2012-A, Class A, Class M, Class B, Class C and Class D
£
£
S
 
Series 2012-B, Class A, Class M, Class B, Class C and Class D
£
£
S
 
Series 2012-C, Class A, Class M, Class B, Class C and Class D
£
£
S
 
Series 2012-D, Class A, Class M, Class B, Class C and Class D
£
£
S
 
Series 2013-A, Class A, Class M, Class B, Class C and Class D
£
£
S
 
Series 2014-C, Class A, Class M, Class B, Class C and Class D
£
£
S
       
Series 2015-A, Class A, Class M, Class B, Class C and Class D
£
£
S
          
Series 2015-B, Class A, Class M, Class B, Class C and Class D
£
£
S
 
Series 2015-C, Class A, Class M, Class B, Class C and Class D
£
£
S
 
Series 2016-A, Class A, Class M, Class B, Class C and Class D
£
£
S
 
Series 2016-B, Class A, Class M, Class B, Class C and Class D
£
£
S
 
Series 2016-C, Class A, Class M, Class B, Class C and Class D
£
£
S
 
 
Indicate by check mark whether the registrant: (1) has filed all reports required by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes S No £ [Check]
 


 
PART I – DISTRIBUTION INFORMATION

Item 1.
Distribution and Pool Performance Information.
 
The response to Item 1 is set forth below and in Exhibit 99.1.

Are there any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time?  Yes £     No S

Are there any material breaches of pool asset representations and warranties or transaction covenants?  Yes £     No S

Are there any material changes in the solicitation, credit-granting, underwriting, origination or pool selection criteria or procedures?  Yes £     No S

For each of Series 2012-A, Series 2012-B, Series 2012-C, Series 2012-D, Series 2013-A, Series 2014-C, Series 2015-A, Series 2015-B, Series 2015-C, Series 2016-A, Series 2016-B and Series 2016-C is the applicable Portfolio Yield averaged over any three consecutive Monthly Periods less than the applicable Base Rate averaged over such period?  Yes £     No S

Was the depositor required to designate additional accounts during the distribution period because: (i) the average Transferor Amount was less than the average Minimum Transferor Amount during any period of 30 consecutive days or (ii) the aggregate amount of principal receivables plus amounts in the Excess Funding Account was less than the Required Principal Balance on any business day during the distribution period?  Yes £     No S

No assets securitized by the depositor and held by World Financial Network Credit Card Master Note Trust were the subject of a demand to repurchase or replace for breach of the representations and warranties during the distribution period from March 1, 2017 to March 31, 2017.

The depositor filed its most recent Form ABS-15G on February 9, 2017. The CIK number of the depositor is 0001139552.

 
Item 1A.
Asset-Level Information.
 
Not applicable.
 

Item 1B.
Asset Representations Reviewer and Investor Communication.
 
Not applicable.
 
 
Item 3.
Sales of Securities and Use of Proceeds.
 
Not applicable.
 
 
Item 7.
Change in Sponsor Interest in the Securities.

Not applicable.

 
Item 10.
Exhibits.
 
Exhibit
No.
 
 
Document Description
99.1
 
Monthly Noteholder's Statement for World Financial Network Credit Card Master Note Trust, Series 2012-A, Series 2012-B, Series 2012-C, Series 2012-D, Series 2013-A, Series 2014-C,  Series 2015-A, Series 2015-B, Series 2015-C, Series 2016-A, Series 2016-B and Series 2016-C for the April 17, 2017 Payment Date.
 
 

 
SIGNATURES
 
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 
 
WFN Credit Company, LLC, as depositor
 
 
 
 
 
 
 
Dated: April 17, 2017 By:
/s/ Randy J. Redcay
 
 
Name:
Randy J. Redcay
 
 
 
Title:
Chief Financial Officer
 
 
 

 
INDEX TO EXHIBITS

Exhibit
No.
 
 
Document Description
99.1
 
Monthly Noteholder's Statement for World Financial Network Credit Card Master Note Trust, Series 2012-A, Series 2012-B, Series 2012-C, Series 2012-D, Series 2013-A, Series 2014-C,  Series 2015-A, Series 2015-B, Series 2015-C, Series 2016-A, Series 2016-B and Series 2016-C for the April 17, 2017 Payment Date.