NEW YORK--()--Fitch Ratings has published its monthly 'U.S. Credit Card ABS Tear Sheet'. This report shows Fitch's break-even stress scenarios for the largest credit card issuers using August 2012 performance data. The break-even runs are based on the 12- and three-month average performance for each trust, using the current one-month LIBOR rate for the LIBOR assumption. It allows investors to compare trust performance with the same baseline.
This report also contains the following: a) Credit Card Performance Metrics Summary for Prime Portfolio; b) Issuance Ratings Summary; c) Issuance Trust Credit Enhancement Summary; d) Issuance Trust Enhancement Summary; e) Issuance Trust Comparison data; f) Credit Enhancement Changes history summary, and g) Break-even Multiples comparison summary.
'U.S. Credit Card ABS Tear Sheet' is available on the Fitch Ratings web site at www.fitchratings.com under the following headers:
Structured Finance>> ABS >> Special Report
Additional information is available at www.fitchratings.com.
Applicable Criteria and Related Research:
--'Global Credit Card ABS Rating Criteria' (June 22, 2012);
--'U.S. Credit Card ABS Stress Test,' (June 18, 2012);
--'Credit Card Movers & Shakers' (March 23, 2012);
--' U.S. Credit Card ABS Performance Charges On' (Nov. 4, 2011).
Applicable Criteria and Related Research: U.S. Credit Card ABS Tear Sheet
Global Credit Card ABS Rating Criteria
U.S. Credit Card ABS Stress Test
Credit Card Movers & Shakers (U.S.)
U.S. Credit Card ABS Performance Charges On (The Credit Crisis Four Years On)