Fitch: U.S. Credit Card ABS Maturities Set to Drop in 2016

NEW YORK--(BUSINESS WIRE)-- Link to Fitch Ratings' Report: Credit Card ABS 2016 (North America): The Year in Maturitieshttps://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=879135

The rate of U.S. credit card ABS maturities coming due is set to decline this year, according to Fitch Ratings in a new report.

Fitch projects credit card ABS maturities to total approximately $39 billion, down from $48 billion in 2015. The decline appears to be short-lived, however, as maturities are projected to climb in 2017. This comes as Fitch projects overall 2016 U.S. credit card ABS issuance to come in at roughly $25-$28 billion, which is off of last year's clip of $34 million. The projected ascent of maturities in 2017 could also lead to a spike in new issuance.

As always, 'unforeseen macroeconomic issues and regulatory changes could affect the path of growth in credit card receivables,' said Senior Director Herman Poon.

Total prime U.S. credit card ABS outstandings at year-end 2015 fell $5 billion to $143 billion. This represents the second highest level seen since 2011. Despite the somewhat see-saw projections for maturities and new deals over the next couple of years, one constant remains the strong collateral performance of credit card ABS with delinquencies and chargeoffs hovering at or near record lows.

'Credit Card ABS 2016 (North America): The Year in Maturities' is available at 'www.fitchratings.com' or by clicking on the above link.

Additional information is available at 'www.fitchratings.com'.

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Fitch Ratings
Stephanie Lobaccaro
Analyst
+1-212-908-0769
Fitch Ratings, Inc., 33 Whitehall Street, New York, NY, 10004
or
Herman C. Poon
Senior Director
+1-212-908-0847
or
Michael Dean
Managing Director
+1-212-908-0556
or
Media Relations:
Sandro Scenga, New York, +1 212-908-0278
Email: [email protected]

Source: Fitch Ratings

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