Fitch Affirms American Express at 'A+'; Outlook Remains Stable.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. has affirmed the issuer default ratings (IDRs) at 'A+' and short-term ratings at 'F1' for American Express Company (AXP The brand name Digital gave to its first family of Alpha-based computers. In 1998, Digital was acquired by Compaq. See Alpha. ) and all related subsidiaries. The rating outlook is Stable. A complete list of ratings follows at the end of this release. Approximately $46 billion of debt is affected by this action. The affirmation and Stable Outlook continue to reflect AXPs strong franchise in charge and credit card lending, solid risk-adjusted capital levels, good operating performance and sound liquidity profile. Rating concerns recognize potential shifts in payment preferences, the company's co-brand relationship with Delta Airlines, and potential for higher delinquencies and losses in the company's lending portfolio. Ratings Affirmed with a Stable Rating Outlook American Express Co. -- Long-term IDR IDR In currencies, this is the abbreviation for the Indonesian Rupiah. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 'A+'; -- Senior unsecured debt 'A+'; -- Commercial paper 'F1'; -- Short-term 'F1'; -- Individual 'B'; -- Support '5'. American Express Credit Corporation -- Long-term IDR 'A+'; -- Senior unsecured debt 'A+'; -- Commercial paper 'F1'; -- Short-term 'F1'. American Express Bank, Ltd -- Long-term IDR 'A+'; -- Subordinated debt 'A'; -- Short-term 'F1'; -- Individual 'B'; -- Support '1'. American Express Centurion Bank -- Long-term IDR 'A+'; -- Senior unsecured debt 'A+'; -- Short-term deposits 'F1+'; -- Short-term 'F1'; -- Individual 'B'; -- Support '1'. American Express Bank, FSB (FrontSide Bus) See system bus. FSB - front side bus -- Long-term IDR 'A+'; -- Senior unsecured debt 'A+'; -- Short-term deposits 'F1+'; -- Short-term 'F1'; -- Individual 'B'; -- Support '1'. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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