Fitch Ratings says delinquency levels reported on UK credit card trusts hit a new historically high level in January 2009, having recorded a month on month increase for each of the last five months. Fitch expects this deterioration to continue throughout 2009, with the rise in delinquencies supporting the agency’s view that the economic deterioration in the UK will continue to impact customers’ ability to service their credit card debts. In its “Credit Card Movers & Shakers January 2009 report, to be published shortly, Fitch will detail the increase in 60-180 days delinquencies which occurred for each of the trusts included in the Fitch Delinquency Index.
Just one more bit of crappy economic news.
