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American Express Credit Account Master Trust $1.073 Billion Certificates Series 2009-2 Assigned Preliminary Ratings Aug 09
Standard & Poors, Aug 2009
Abstract
OVERVIEW American Express Credit Account Master Trust's series 2009-2 issuance is an ABS securitization of American Express credit cards and Sign & Travel/Extended Payment Option revolving credit accounts that are owned by American Express Centurion Bank or American Express Bank FSB. We assigned our preliminary ratings to the class A and B certificates. The preliminary ratings reflect our view of the transaction's features, including the credit support, collateral pool, and legal structure; and our stress assumptions and cash flow modeling scenarios. NEW YORK (Standard & Poor's) Aug. 28, 2009--Standard & Poor's Ratings Services today assigned its preliminary ratings to American Express Credit Account Master Trust's $1.073 billion floating-rate asset-backed certificates series 2009-2 (see list). The preliminary ratings are based on...
Companies mentioned in this report are: American Express Credit Account Master Trust
Action: Preliminary Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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