Report title: Credit Card Statement Weekly Newsletter
from Moody's Global Credit Research
10 page (4796 word) report published Nov 24, 2008

Price $550.00 available for immediate download
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...September s credit card remittance reports (released in late October) show increasing delinquencies and worsening roll rates. Fewer card holders are curing their delinquencies and more are migrating into more serious delinquency. Reports released later this month will show a one-time dip in excess spread in October, due to the tightening in the Prime-LIBOR basis. But while excess spread will recover in November, we expect it to gradually erode in the coming year, mainly due to ri sing charge-off rates. We continue to have a negative outlook on the credit card sector and believe collateral pe rformance will deteriorate throughout 2009. There is now also a greater likelihood of downgrades of credit card-backed debt in the coming year, especially among subordinate notes. ...

Report Type: Special Report
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