NEW YORK--(BUSINESS WIRE)-- Fitch Ratings expects to assign the following ratings to American Express Credit Account Master Trust's asset-backed certificates, series 2012-4:
--$750,000,000 class A floating-rate 'AAAsf'; Outlook Stable;
--$54,545,000 class B floating-rate 'A+sf'; Outlook Stable.
Fitch's expected ratings are based on the underlying receivables pool, available credit enhancement, American Express Centurion Bank (AECB) and American Express Bank, FSB (FSB)'s underwriting, American Express Travel Related Services Company, Inc. (TRS)'s servicing capabilities, and the transaction's legal and cash flow structures, which employ early amortization triggers.
The presale report is available to all investors on Fitch's website at 'www.fitchratings.com'. For more information about Fitch's comprehensive subscription service FitchResearch, which includes all presale reports, surveillance, and credit reports on more than 20 asset classes, contact product sales at +1-212-908-0800 or at 'email@example.com'.
Additional information is available at 'www.fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.
Applicable Criteria and Related Research:
--'Global Credit Card ABS Rating Criteria' (June 22, 2012);
--'Global Structured Finance Rating Criteria' (June 6, 2012).
Applicable Criteria and Related Research: American Express Credit Account Master Trust, Series 2012-4
Global Credit Card ABS Rating Criteria
Global Structured Finance Rating Criteria
Steven Stubbs, +1 212-908-0676
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Herman Poon, +1 212-908-0847
Tracy Wan, +1 212-908-9171
Sandro Scenga, +1 212-908-0278
Source: Fitch Ratings