...American Express Credit Account Master Trust, Series 2025-2 and 2025-3 (May 2025) The representations, warranties and enforcement mechanisms (RW&Es) contained in the offering documents that are available to investors for American Express Credit Account Master Trust, Series 2025-2 and 2025-3, are substantially comparable to those typically contained in U.S. credit card ABS transactions, as described in Fitch Ratings' special report, "Representations, Warranties and Enforcement Mechanisms in Global Structured Finance Transactions," dated Sept. 12, 2024. The RW&Es are those disclosed in the transaction's offering documents and relate to the underlying asset pool. Additionally, the transaction does not include the following RW&E that Fitch considers typical for U.S. credit card ABS transactions:...
