May 11, 2012, Ratings Raised, Affirmed On U.S. Private-Label Card ABS From Seven Issuers On Adjustments To Key Performance Variables - S&P Global Ratings’ Credit Research

May 11, 2012, Ratings Raised, Affirmed On U.S. Private-Label Card ABS From Seven Issuers On Adjustments To Key Performance Variables

May 11, 2012, Ratings Raised, Affirmed On U.S. Private-Label Card ABS From Seven Issuers On Adjustments To Key Performance Variables - S&P Global Ratings’ Credit Research
May 11, 2012, Ratings Raised, Affirmed On U.S. Private-Label Card ABS From Seven Issuers On Adjustments To Key Performance Variables
Published May 11, 2012
11 pages (4673 words) — Published May 11, 2012
Price US$ 600.00  |  Buy this Report Now

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Abstract:

On May 11, 2012, Standard&Poor's Ratings Services raised its ratings on four classes and affirmed its ratings on 60 classes of asset-backed securities (ABS) collateralized by credit card receivables serviced and originated by six originators /seven issuers of cobranded and retail credit card ABS (for more information, see "Four Ratings Raised, 60 Affirmed On Seven U.S. Private-Label Card ABS Issuers," published May 11, 2012, and the list in tables 2 and 3). The rating actions concluded our recent review of each of the credit card ABS transactions that we rate from the six originators/seven issuers of U.S. cobranded and retail credit card ABS. We updated our base-case assumptions and stresses to the key performance variables used in our

  
Brief Excerpt:

...On May 11, 2012, Standard & Poor's Ratings Services raised its ratings on four classes and affirmed its ratings on 60 classes of asset-backed securities (ABS) collateralized by credit card receivables serviced and originated by six originators /seven issuers of cobranded and retail credit card ABS (for more information, see "Four Ratings Raised, 60 Affirmed On Seven U.S. Private-Label Card ABS Issuers," published May 11, 2012, and the list in tables 2 and 3). The rating actions concluded our recent review of each of the credit card ABS transactions that we rate from the six originators/seven issuers of U.S. cobranded and retail credit card ABS. We updated our base-case assumptions and stresses to the key performance variables used in our cash flow modeling when assigning and monitoring ratings on credit card ABS (yield, charge-off rate, and payment rate; see table 1). The collateral performance of credit card receivables backing each of these credit card ABS transactions has stabilized...

  
Report Type:

Commentary

Sector
Structured Finance
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "May 11, 2012, Ratings Raised, Affirmed On U.S. Private-Label Card ABS From Seven Issuers On Adjustments To Key Performance Variables" May 11, 2012. Alacra Store. Mar 28, 2024. <http://www.alacrastore.com/s-and-p-credit-research/May-11-2012-Ratings-Raised-Affirmed-On-U-S-Private-Label-Card-ABS-From-Seven-Issuers-On-Adjustments-To-Key-Performance-Variables-1947533>
  
APA:
S&P Global Ratings’ Credit Research. (). May 11, 2012, Ratings Raised, Affirmed On U.S. Private-Label Card ABS From Seven Issuers On Adjustments To Key Performance Variables May 11, 2012. New York, NY: Alacra Store. Retrieved Mar 28, 2024 from <http://www.alacrastore.com/s-and-p-credit-research/May-11-2012-Ratings-Raised-Affirmed-On-U-S-Private-Label-Card-ABS-From-Seven-Issuers-On-Adjustments-To-Key-Performance-Variables-1947533>
  
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