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S&P Credit Research13163 word report
published Oct 05, 2009
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S&P Credit Research
| Abstract: | After dropping 60 basis points (bps) in July, losses among the bankcard trusts in Standard&Poor's Ratings Services' U.S. Credit Card Quality Index (CCQI) trended back up in August 2009 to 10.5%, slightly exceeding the level in June 2009. This isn't surprising, however, considering the continued rise in the unemployment rate, an increase in front-end (30-day) delinquency levels, falling trust receivables balances, and the impact from lender repricing efforts last spring. Based on our chief economist's baseline and pessimistic unemployment forecasts of 10.4% and 12.1% over the next 12 or 18 months, respectively, we assume CCQI losses will likely range from an average of 10.5% to 13.0% this year and remain in this range for the next 12 to
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| Brief Excerpt: | RESEARCH Ratings Definitions U.S. and Canada Credit Card Quality Index Report: U.S. Bankcard Losses Hit Another Historical High After A Brief Recovery In July 2009 Publication date: 05-Oct-2009 Primary Credit Analysts: Kelly Luo,...
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| Report Type: | Commentary
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| Sector: | Structured Finance
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
