American Express Credit Account Master Trust's issuances are ABS securitizations backed by a pool of receivables generated by designated consumer American Express credit card accounts and pay-over-time revolving credit features associated with certain credit card accounts that are owned by American Express National Bank. We assigned our preliminary ratings to the class A notes. The preliminary ratings reflect our view of the transactions' credit support and underlying payment structure, cash flow mechanics, and legal structure, among other factors. AUSTIN (S&P Global Ratings) June 5, 2023--S&P Global Ratings today assigned its preliminary ratings to American Express Credit Account Master Trust's fixed-rate asset-backed series 2023-1 and 2023-2 class A certificates (see list). The issuances are ABS securitizations backed by a pool of
