OVERVIEW American Express Credit Account Master Trust's series 2011-2 certificate issuance is an ABS securitization backed by a pool of receivables generated by American Express credit card accounts and Sign&Travel/Extended Payment Option revolving credit accounts that are owned by American Express Centurion Bank or American Express Bank FSB. We assigned our preliminary ratings to the class A and B certificates. The preliminary ratings reflect our view of the transaction's credit support, payment and legal structures, and pool characteristics, among other factors. NEW YORK (Standard&Poor's) Oct. 3, 2011--Standard&Poor's Ratings Services today assigned its preliminary ratings to American Express Credit Account Master Trust's $536.364 million floating-rate asset-backed certificates series 2011-2 (see list). The certificate issuance is
