OVERVIEW American Express Credit Account Master Trust's issuance is an ABS securitization backed a pool of receivables generated by American Express credit card accounts and Pay Over Time revolving credit accounts that are owned by American Express Centurion Bank or American Express Bank FSB. We assigned our ratings to the class A and B notes. The ratings reflect our view of the transaction's credit support, timely interest and principal payments, and the servicer's servicing experience, among other factors. NEW YORK (Standard&Poor's) Aug. 21, 2012--Standard&Poor's Ratings Services today assigned its ratings to American Express Credit Account Master Trust's $1.603 billion fixed-rate asset-backed certificates series 2012-2 (see list). The note issuance is an asset-backed securities transaction backed by
