Fitch Publishes Credit Card Movers & Shakers With September 2009 Performance

• Press Release
• Source: Fitch Ratings
• On 3:06 pm EST, Tuesday November 10, 2009

NEW YORK--(BUSINESS WIRE)--Fitch Ratings has published 'Credit Card Movers & Shakers' containing September 2009 performance.

U.S. credit card performance measures exhibited mixed results in September, with chargeoffs declining for the second time in three months while delinquencies resumed their upward trends, according to the latest Credit Card Index results from Fitch. The results come as consumers continue to experience high unemployment rates and a lack of credit availability.

During the month, Fitch's Credit Card Chargeoff Index declined 77 basis points to 10.75%, marking the third month-over-month improvement. The chargeoff index remains 71% above year-earlier levels.

Despite the challenging environment, Fitch continues to expect current ratings of senior credit card asset-backed securities (ABS) tranches to remain stable given available credit enhancement and structural protections afforded investors. The outlook for subordinate tranches remains negative. Fitch expects U.S. unemployment to peak at 10.3% in second-quarter 2010 and remain above 10% throughout 2010.

'Credit Card Movers & Shakers' is available on the Fitch Ratings web site at 'www.fitchratings.com' under the following headers:

Structured Finance>> ABS >> Newsletters

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

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Fitch Ratings, New York
Cynthia Ullrich, +1-212-908-0609
Paritosh Merchant, +1-212-908-0321
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