Fitch美国信用卡abs的样张.pdf

Structured Finance Asset-Backed U.S. Credit Card ABS Tear Sheet Special Report Analysts Summary Amy Gan This report shows Fitch Ratings’ break-even stress scenarios for the largest credit card +1 212 908-9143 issuers. The break-even stress scenarios are based on the 12-month and three-month amy.gan@ average performance for each trust, using the current one-month LIBOR rate for the Michael Dean LIBOR assumption. Tear sheets published prior to Sept. 1, 2009 used a LIBOR +1 212 908-9556 assumption of 5%, based on the long-term average one-month LIBOR rate. michael.dean@ The break-even stresses shown in the bar chart below were derived using Fitch’s base Cynthia Ullrich case stress scenario shown in the table at the top of page 2. These results may differ +1 212 908-0609 cynthia.ullrich@ from multiples in previous U.S. credit card ABS issuance trust updates, which used issuer-specific stresses for each trust. This will allow investors to compare trust Tracy Wan performance using the same baseline. +1 212 908-9171 tracy.wan@ Herman Poon +1 212 908-0847 Credit Card Performance Metrics Summary for Prime Portfolio herman.poon@ (%, As of March 31, 2010)