The collateral interest is collateralized by a pool of receivables in Amex CAMT, which are generated by American Express credit card accounts and Pay Over Time revolving credit accounts that are owned by American Express Centurion Bank (Centurion) or American Express Bank FSB (FSB). The note issuance is an asset-backed securities transaction backed by payments received by the owner trust relating to the collateral interest in American Express Credit Account Master Trust’s (Amex CAMT’s) series 2012-5 transaction. 8, 2012-Standard & Poor’s Ratings Services today assigned its ‘AA (sf)’ rating to American Express Credit Account Secured Note Trust 2012-5’s $44.643 million class 1 1.07% secured notes (see list). The ‘AA (sf)’ rating reflects our view of the transaction’s credit support, payment and legal structures, and pool characteristics, among other factors. We assigned our ‘AA (sf)’ rating to the class 1 notes. The collateral interest is collateralized by a pool of receivables in Amex CAMT, which are 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. American Express Credit Account Secured Note Trust 2012-5’s note issuance is an ABS securitization backed by payments received by the owner trust relating to the collateral interest in American Express Credit Account Master Trust’s (Amex CAMT’s) series 2012-5 transaction.
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