...American Express Credit Account Master Trust's (AECAMT) Series 2025-2 and 2025-3, fixed- rate, class A, asset-backed certificates are expected to be rated as listed above by Fitch Ratings. The class A certificates (series 2025-2 and 2025-3 certificates) will be publicly offered, while the class B certificates and collateral interest will be retained by the transferor at closing. The series 2025-2 and 2025-3 certificateholders will receive monthly interest payments on the 15th day of each month or the next business day, beginning June 16, 2025. Fitch's expected ratings are based on the underlying collateral pool, available credit enhancement (CE), the underwriting and servicing capabilities of American Express National Bank (AENB; A/F1/Stable Outlook) and American Express Travel Related Services Company, Inc. (TRS; A/F1/Stable), and the transactions' financial and legal structure, which employ early amortization triggers. The expected ratings address the likelihood of investors receiving...
