NEW YORK--(BUSINESS WIRE)--Fitch Ratings assigns the following ratings to American Express Credit Account Master Trust's asset-backed certificates, series 2012-2:
-- $1,500,000,000 class A 0.68% 'AAAsf'; Outlook Stable;
-- $102,679,000 class B 0.99% 'A+sf'; Outlook Stable.
Fitch's ratings are based on the underlying receivables pool, available credit enhancement, American Express Centurion Bank and American Express Bank, FSB's underwriting, American Express Travel Related Services Company, Inc.'s servicing capabilities, and the transaction's legal and cash flow structures, which employ early amortization triggers.
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:
Global Credit Card ABS Rating Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=681533
Global Structured Finance Rating Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679923
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