Fitch affirms EW Global Funding

Fitch Ratings said it affirmed EW Global Funding Ltd.'s $67.1 million senior notes due July 2012 at A and $8.5 million junior notes due July 2012 at BBB. The notes were issued in August 2007.

The outlook is positive.

The affirmation follows a satisfactory review of the transaction's performance to date, Fitch said, and sound performance of the pool of eligible franchise apparel receivables originated by E. Land World Ltd.

The portfolio has demonstrated relatively stable collection rates, together with improving default and delinquency ratios, the agency said.

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