NEW YORK (Standard&Poor's) June 13, 2006--Standard&Poor's Ratings Services today assigned its preliminary ratings to American Express Credit Account Master Trust Series 2006-2's $465 million fixed-rate asset-backed certificates series 2006-2 (see list). The preliminary ratings are based on information as of June 13, 2006. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings. The preliminary ratings reflect the credit enhancement of 12.5% for the class A certificates and 7.0% for the class B certificates, strong and stable historical portfolio performance, and structural considerations. The preliminary ratings also reflect the repayment of principal by the series termination date, Jan. 15, 2014, and not the expected final payment date. A copy of
