June 28, 2017 / 5:49 PM / 8 months ago

BRIEF-Moody's says U.S. retailer closures negatively affecting credit cards banks, ABS trusts

June 28 (Reuters) - Moody‘s:

* Moody’s says U.S. retailer closures negatively affecting some credit cards banks, ABS trusts

* Moody’s says as retailers close stores to improve profitability over coming years, the trend will put upward pressure on private label charge-offs

* Moody’s says among largest private-label card issuers, only synchrony and alliance data rely heavily on the business

* Moody’s says Citi, Capital One rely on private-label, co-branded card loans for high single-digit percentage of earnings

* Moody's says Wells Fargo, TD Bank have very modest retail private-label and co-branded credit card exposures relative to their overall loan portfolios Source text: bit.ly/2tlmVfC

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