OREANDA-NEWS. The rate of U.S. credit card ABS maturities coming due is set to decline this year, according to Fitch Ratings in a new report.

Fitch projects credit card ABS maturities to total approximately $39 billion, down from $48 billion in 2015. The decline appears to be short-lived, however, as maturities are projected to climb in 2017. This comes as Fitch projects overall 2016 U.S. credit card ABS issuance to come in at roughly $25-$28 billion, which is off of last year's clip of $34 million. The projected ascent of maturities in 2017 could also lead to a spike in new issuance.

As always, 'unforeseen macroeconomic issues and regulatory changes could affect the path of growth in credit card receivables,' said Senior Director Herman Poon.

Total prime U.S. credit card ABS outstandings at year-end 2015 fell $5 billion to $143 billion. This represents the second highest level seen since 2011. Despite the somewhat see-saw projections for maturities and new deals over the next couple of years, one constant remains the strong collateral performance of credit card ABS with delinquencies and chargeoffs hovering at or near record lows.