The European Credit Card index quarterly report provides a comparative analysis of the key performance indicators across European portfolios of credit card securitizations and credit card trusts. The key surveillance indicators are: charge-offs, payment rate, yield, and delinquency rate. It provides analysis of and commentary on current trends in the credit cards market in Europe.

These research articles are updated regularly and are available to subscribers of RatingsDirect®, Standard & Poor's Web-based credit research and analysis system, at www.ratingsdirect.com. If you are not a RatingsDirect subscriber, you may purchase individual copies of these reports by contacting RatingsDirect. Members of the media may request a copy of this report by contacting the media representative.

Ratings information can also be found on Standard & Poor's public Web site under Credit Ratings.