| Title: | MOODY'S REPORTS: U.S. Credit Card Performance Mixed in February |
| Price: | $550.00 |
| Publication Date: | Apr 14, 2008 |
| Report Type: | Index |
| Brief Excerpt: | ...For February ####, credit card performance deteriorated in three of the five met- rics tracked by Moody's Credit Card Cr edit Indices, which tracks more than $### billion of U.S. bank credit card loans backing securities rated by Moody's. Moody's has a negative Outlook on the credit card sector, but sees no immediate rating implications for credit card asset-backed securities. Moody's believes that fundamental differences in credit underwr iting standards, risk management, issuer credit strength, and macroeconomic drivers explain why the credit card sector does not appear to be following the down turn in the sub-prime mortgage sector at this time. The charge-off rate is now the highest it has been since December ####, when charge-offs temporarily spiked due to a change in the consumer bankruptcy law. The normalization of bankruptcy filings and economic headwinds will most cer- tainly continue to increase charge-off rate s throughout the year and, perhaps, into ####. At #.##%, the February... |
| Word Count: | 2385 |
| Length: | 4 Pages |
| Format: | 
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