OREANDA-NEWS. Fitch Ratings says UK credit card asset performance was stable in 2Q15 as its three-months rolling (3MA) charge-off index and payment rate index remained at 2.8% and 22.5% over the quarter, respectively. Late delinquencies - captured by the 60-180 days delinquency index - were anchored at the 1.1% level, indicating further stability for charge-offs whereas 3MA gross yield index continued deteriorating in 2Q15.

Fitch maintains a stable outlook for the sector in 2015, with limited increases in delinquencies and charge-offs towards the end of the year, while gross yield and payment rates may be slightly impacted by the reaction of card issuers to the upcoming interchange cap.

UK credit card ABS had a busy issuance period over the quarter as Fitch rated three transactions: Delamare Cards MTN Issuer plc's Series 2015-1 notes in May, NewDay Funding's Series 2015-1 and Penarth Master Issue Plc's Series 2015-2 notes in June.

The full report, entitled 'Credit Card Index - UK 3Q15', is available at www.fitchratings.com or by clicking on the link above.

Fitch has also updated "ABS Compare", an Excel tool, providing easy access to the agency's surveillance and index data on European consumer and credit card ABS transactions (see "ABS Compare" on www.fitchratings.com).