Exhibit 34.2



Report of Independent Registered Public
Accounting Firm



The Board of Directors
Synchrony Bank:



We have examined management’s assessment, included in
the accompanying Management’s Assessment of Compliance, that Synchrony Bank (the “Company) complied with the servicing
criteria set forth in Item 1122(d) of the Securities and Exchange Commission’s Regulation AB for asset-backed securities
transactions for which the Company acted as servicer involving private-label and co-branded credit card receivables and excluding
private asset-backed securities transactions involving receivables that are not originated through the retail card segment of SYNCHRONY
FINANCIAL (the Platform), as of and for the twelve months ended December 31, 2016. Management has determined that servicing
criteria 1122(d)(1)(ii), 1122(d)(1)(v), 1122(d)(2)(i), 1122(d)(2)(ii), 1122(d)(2)(v), 1122(d)(2)(vii), 1122(d)(3)(iv), 1122(d)(4)(iii),
1122(d)(4)(vi), 1122(d)(4)(vii), 1122(d)(4)(viii) and 1122(d)(4)(ix) are applicable to the activities it performs with respect
to the Platform, and that all other servicing criteria set forth in Item 1122(d) are not applicable to the servicing services provided
by the Company with respect to the Platform. With respect to applicable servicing criterion 1122(d)(4)(iii), the Company has determined
that there were no activities performed during the twelve months ended December 31, 2016 with respect to the Platform because
there were no occurrences of events that would require the Company to perform such activities. Appendix B to Management’s
Assessment of Compliance identifies the individual asset-backed transactions and securities defined by management as constituting
the Platform. Management is responsible for the Company’s compliance with the servicing criteria. Our responsibility is to
express an opinion on management’s assessment about the Company’s compliance based on our examination.



Our examination was conducted in accordance with the standards
of the Public Company Accounting Oversight Board (United States) and in accordance with attestation standards established by the
American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Company’s
compliance with the servicing criteria specified above and performing such other procedures as we considered necessary in the circumstances.
Our examination included testing selected asset-backed transactions and securities that comprise the Platform, testing selected
servicing activities related to the Platform, and determining whether the Company processed those selected transactions and performed
those selected activities in compliance with the servicing criteria. Furthermore, our procedures were limited to the selected transactions
and servicing activities performed by the Company during the period covered by this report. Our procedures were not designed to
determine whether errors may have occurred either prior to or subsequent to our tests that may have affected the balances or amounts
calculated or reported by the Company during the period covered by this report for the selected transactions or any other transactions.
We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination
on the Company’s compliance with the servicing criteria.



As described in the accompanying Management’s Assessment
of Compliance for servicing criteria 1122(d)(2)(i), 1122(d)(2)(vii)(A), 1122(d)(2)(vii)(B) and 1122(d)(2)(vii)(D), the Company
has engaged various vendors to perform the activities required by these servicing criteria. The Company has determined that none
of these vendors is considered a “servicer” as defined in Item 1101(j) of Regulation AB, and the Company has elected
to take responsibility for assessing compliance with the servicing criteria applicable to each vendor as permitted by the SEC’s
Compliance and Disclosure Interpretation (C&DI) 200.06, Vendors Engaged by Servicers(C&DI 200.06). As permitted
by C&DI 200.06, the Company has asserted that it has policies and procedures in place designed to provide reasonable assurance
that the vendors’ activities comply in all material respects with the servicing criteria applicable to each vendor. The Company
is solely responsible for determining that it meets the SEC requirements to apply C&DI 200.06 for the vendors and related criteria
as described in its assessment, and we performed no procedures with respect to the Company’s eligibility to apply C&DI
200.06.



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In our opinion, management’s assessment that the Company
complied with the aforementioned servicing criteria, including servicing criteria 1122(d)(2)(i), 1122(d)(2)(vii)(A), 1122(d)(2)(vii)(B)
and 1122(d)(2)(vii)(D) for which compliance is determined based on C&DI 200.06 as described above, as of and for the twelve
months ended December 31, 2016 is fairly stated in all material respects.



/s/KPMG LLP



Chicago, Illinois
March 29, 2017





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