EXPGY Experian Plc (QX)

NEW YORK, Dec. 16, 2014 /PRNewswire/ -- Data through November 2014, released today by S&P Dow Jones Indices and Experian for the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, continued to show an increase in default rates.  The national composite posted 1.07% in November, up one basis point from October 2014.  For the fourth consecutive month, the first mortgage default rate rose one basis point, to 0.97% in November. The second mortgage default also rose one basis point from its historical low in October to 0.48%. The bank card rate set a new historical low again this month with a reported rate of 2.59%, down one basis point from the previous month.

"The composite default rate continues to show very little movement, remaining close to one percent. The default rate on autos is up slightly from last summer's low but below levels of a year earlier. Default rates for bank credit cards are at their lowest levels since the series began in 2004 while first mortgage defaults are up very slightly from summer lows," says David M. Blitzer, Managing Director and Chairman of the Index Committee for S&P Dow Jones Indices.  "Key economic factors favor the consumer: oil and gasoline prices are down, debt services ratios – the proportion of income the average house uses to cover debt payments – are close to record lows, inflation is low and the economy is finally seeing hints of wage growth."

"Chicago, Los Angeles and New York all reported default rate decreases in November.  Chicago reported a default rate of 1.11%, a new historical low.  Los Angeles decreased four basis points to 0.80%, while New York decreased by one basis point to 0.98%, its fourth consecutive decrease.  Dallas and Miami both saw their default rates increase in November. Dallas posted a 1.03% rate, while Miami reported a 1.46% default rate, up 20 basis points from October.  Despite the recent trend, all five cities – Chicago, Dallas, Los Angeles, Miami and New York – still remain below rates seen a year ago."

The table below summarizes the November 2014 results for the S&P/Experian Credit Default Indices. These data are not seasonally adjusted and are not subject to revision.

The table below provides the S&P/Experian Consumer Default Composite Indices for the five MSAs:

About S&P Dow Jones Indices
S&P Dow Jones Indices LLC, a part of McGraw Hill Financial, is the world's largest, global resource for index-based concepts, data and research. Home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average™, S&P Dow Jones Indices LLC has over 115 years of experience constructing innovative and transparent solutions that fulfill the needs of investors. More assets are invested in products based upon our indices than any other provider in the world. With over 1,000,000 indices covering a wide range of asset classes across the globe, S&P Dow Jones Indices LLC defines the way investors measure and trade the markets. To learn more about our company, please visit www.spdji.com. 

Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC, a part of McGraw Hill Financial. Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones").  These trademarks have been licensed to S&P Dow Jones Indices LLC. It is not possible to invest directly in an index. S&P Dow Jones Indices LLC, Dow Jones, S&P and their respective affiliates (collectively "S&P Dow Jones Indices") do not sponsor, endorse, sell, or promote any investment fund or other investment vehicle that is offered by third parties and that seeks to provide an investment return based on the performance of any index. This document does not constitute an offer of services in jurisdictions where S&P Dow Jones Indices does not have the necessary licenses. S&P Dow Jones Indices receives compensation in connection with licensing its indices to third parties.

About Experian
Experian is the leading global information services company, providing data and analytical tools to clients around the world. The Group helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.

Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2014 was US$4.8 billion. Experian employs approximately 16,000 people in 39 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and Sao Paulo, Brazil.

For more information, visit http://www.experianplc.com.

For more information:

Dave Guarino
Communications
S&P Dow Jones Indices
dave.guarino@spdji.com 
(+1) 212-438-1471

David Blitzer
Managing Director and Chairman of the Index Committee
S&P Dow Jones Indices
david.blitzer@spdji.com
(+1) 212-438-3907

Jordan Takeyama
Experian Public Relations
jordan.takeyama@experian.com 
(+1) 714-830-7561

Jointly developed by S&P Dow Jones Indices LLC and Experian, the S&P/Experian Consumer Credit Default Indices are published on the third Tuesday of each month at 9:00 am ET. They are constructed to track the default experience of consumer balances in four key loan categories: auto, bankcard, first mortgage lien and second mortgage lien. The Indices are calculated based on data extracted from Experian's consumer credit database. This database is populated with individual consumer loan and payment data submitted by lenders to Experian every month. Experian's base of data contributors includes leading banks and mortgage companies, and covers approximately $11 trillion in outstanding loans sourced from 11,500 lenders.

For more information, please visit: www.consumercreditindices.standardandpoors.com.

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SOURCE S&P Dow Jones Indices