American Express Credit Account Master Trust's issuances are ABS transactions 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 certificates from series 2025-2 and 2025-3. The preliminary ratings reflect our view of the transactions' credit support and underlying payment structure, cash flow mechanics, and legal structure, among other factors. NEW YORK (S&P Global Ratings) May 1, 2025--S&P Global Ratings today assigned its preliminary ratings to American Express Credit Account Master Trust's fixed-rate asset-backed class A certificates series 2025-2 and 2025-3 (see list). The issuances are ABS
