NEW YORK — As analysts described overall consumer credit
performance as "healthy," the auto loan portion of the newest S&P/Experian
Consumer Credit Default Indices showed a slight uptick.

Data through August compiled by S&P Dow Jones Indices
and Experian revealed auto loan defaults edged up to 1.11 percent last month,
up from 1.03 percent in July. Last August, the auto loan reading came in at
1.09 percent.

Analysts determined the national composite measuring changes
in consumer credit defaults across the spectrum was 1.34 percent in August,
marginally down from 1.35 percent in July.

The first mortgage default rate was 1.23 percent last month,
down from 1.25 percent posted in July. The second mortgage reading came in at
0.57 percent in August, up from 0.54 up from July.

The bank card rate hit a new low of 3.12 percent in August.
It was 3.22 percent in July.

"Consumer credit quality continues to look healthy," said
David Blitzer, managing director and chairman of the index committee for
S&P Dow Jones Indices.

"The indices are back to pre-financial crisis levels and are
stable," Blitzer continued. "The national composite and the first mortgage
posted recent lows in August; they were 1.34 percent and 1.23 percent, marginally
down from the last month's rates.

"The second mortgage posted 0.57 percent, three basis points
up from July low," he went on to say. "Auto loan default rate was 1.11 percent,
eight basis points up from the last month. Bank card default rate hit a new low
of 3.12 percent, 10 basis points down from July level and 65 basis points down
from the level posted in August 2012.

"All loan types remain below their respective levels a year
ago," Blitzer added.

Looking at the five largest metropolitan areas analysts
track for this report, two cities — New York and Los Angeles — saw their
default rates drop in August. New York dipped to 1.21 percent in August, down
from 1.52 percent a month earlier. Los Angeles dropped to 1.44 percent last
month, sliding from 1.56 percent in July.

The other three cities — Chicago, Dallas and Miami — all
posted increases. Miami remained the highest of the five, coming in at 2.19
percent.

"All moves were small. All five cities remain below default
rates they posted a year ago, in August 2012," Blitzer said.

Jointly developed by S&P Indices and Experian, Blitzer
reiterated the S&P/Experian Consumer Credit Default Indices are published
monthly with the intent to accurately 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.

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