Fitch: U.S. Credit Card ABS Maturities to Trend Higher in 2015

NEW YORK--(BUSINESS WIRE)-- Link to Fitch Ratings' Report: Credit Card ABS 2015 (North America): The Year in Maturitieshttp://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=862935

Both the amount of maturities coming due and the rate of new deals are in line for increases for U.S. credit card ABS this year, according to Fitch Ratings in a new report.

Fitch is projecting a ramp-up of $48 billion in credit card ABS maturities in 2015, up from $41 billion in 2014. 'Credit card ABS maturities will likely see a reprieve in 2016 before ramping back up towards the $45 billion range in 2017,' said Director Herman Poon. By comparison, Fitch projects approximately $4 billion in Canadian credit card ABS maturities for this year.

Additionally, Fitch projects roughly $50 billion in new credit card ABS to come to market in 2015, slightly higher than levels seen in recent years. 'The projected decline in maturities for 2016 could also keep the amount of new credit card ABS deals slightly lower,' said Poon.

Outstandings also climbed roughly $26 billion for credit card ABS at the end of last year to $148 billion (compared to $122 billion in 2013). This was the highest level seen in over three years. The rise in outstandings indicates an ongoing shift in funding strategies for issuers. This bodes well for future performance for credit card ABS, which remains exemplary. Further loosening of credit standards in collateral pools is likely this year, though it should not crimp performance to any great degree.

'Credit Card ABS 2015 (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
Associate Analyst
+1-212-908-0769
Fitch Ratings, Inc.
33 Whitehall Street
New York NY 10004
or
Herman C. Poon
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 protected]

Source: Fitch Ratings

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