Fitch Publishes 'U.S. Credit Card ABS Tear Sheet' with November 2011 Performance Data

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has published its monthly 'U.S. Credit Card ABS Tear Sheet'. This report shows Fitch's break-even stress scenarios for the largest credit card issuers using November 2011 performance data. The break-even runs are based on the 12- and three-month average performance for each trust, using the current one-month LIBOR rate for the LIBOR assumption. It allows investors to compare trust performance with the same baseline.

This report also contains the following: a) Credit Card Performance Metrics Summary for Prime Portfolio; b) Issuance Ratings Summary; c) Issuance Trust Credit Enhancement Summary; d) Issuance Trust Enhancement Summary; e) Issuance Trust Comparison data; f) Credit Enhancement Changes history summary, and g) Break-even Multiples comparison summary.

'U.S. Credit Card ABS Tear Sheet' is available on the Fitch Ratings web site at 'www.fitchratings.com' under the following headers:

Structured Finance>> ABS >> Special Report

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

Applicable Criteria and Related Research:

-- 'Global Credit Card ABS Rating Criteria' (June 28, 2011);

-- 'Credit Cards: Asset Quality Review 1Q11' (May 6, 2011);

-- 'U.S. Credit Card ABS Ratings and Structures Withstand Persistent Pressures' (Aug. 24, 2010);

-- 'Credit Card Movers & Shakers' (June 29, 2011);

-- 'U.S. Credit Card ABS through the Crisis' (Jan. 20, 2010).

Applicable Criteria and Related Research:

U.S. Credit Card ABS Tear Sheet
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=659950

Global Credit Card ABS Rating Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=639672

Credit Cards: Asset Quality Review 1Q11
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=626709

U.S. Credit Card ABS Ratings and Structures Withstand Persistent Pressures
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=548649

U.S. Credit Card ABS Through the Crisis - "A Look Back at What Could Have Been..."
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=496192

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