Standard & Poor’s today projected that securitizations of credit card receivables in the U.S. should hit $40 billion in issuance in 2013, with weak demand for credit curbing growth.  

This figure would be more or less flat from this year. So far in 2012, credit card asset-backed volumes have reached $38 billion. The number for 2011 was $16 billion.

Some $40 billion in issuance next year would fall short of the $50 billion in deal maturities and therefore lead to a drop in outstanding credit card ABS.

As for performance, S&P expects a “modest increase” in collateral charge-offs in 2013 from record lows this year. The effect on ratings is anticipated to be negligible.

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