TEXT-Fitch affirms Shinhan Card 2010-1, 2011-2 and 2011-3 at 'AAAsf'

July 26 - Fitch Ratings has affirmed Shinhan Card 2010-1
International Ltd (Shinhan 2010-1), Shinhan Card 2011-2 International Ltd
(Shinhan 2011-2) and Shinhan Card 2011-3 International Ltd (Shinhan 2011-3). All
are securitisations of credit card receivables in South Korean originated by
Shinhan Card Co., Ltd. (Shinhan Card; 'A-'/Stable/'F2'). The rating actions are
as follows:

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