ABS: Maxed-out on credit cards

by Alex Chambers

Investors get fat yields as rating agencies seek extra credit enhancement.

A determination to avoid a ratings downgrade drove issuance of subordinated UK credit card ABS from both BarclayCard and Capital One in late September. There is potential for similar rating agency pressure on the other bank issuers such as RBS and Morgan Stanley, but it is not clear that other borrowers...

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The truth about Asian investment banking

The money network:

ABS: Maxed-out on credit cards

Investors get fat yields as rating agencies seek extra credit enhancement.

You must be a trialist or subscriber to view this content

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ABS: Maxed-out on credit cards

Investors get fat yields as rating agencies seek extra credit enhancement.

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