Despite another expected increase in total U.S. timeshare ABS delinquencies and monthly defaults, total delinquencies fell compared to the same period last year for the first year-over-year (YOY) improvement since August 2007, according to the latest timeshare ABS index from Fitch Ratings. "Delinquency and default levels are still above historical norms and figure to weaken further throughout the rest of the winter," said Director Brad Sohl. "As such, Fitch expects continued declines in asset performance, though ratings should remain stable." Fourth quarter-2009 (4Q'09) total delinquencies were up to 4.89% from 4.64% at the end of 3Q'09, following seasonal patterns typically seen in timeshare ABS. However, delinquencies decreased by approximately 5% from 5.13% in 4Q'08.