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Fitch affirms AmEx
Fitch Ratings said it has affirmed American Express Co.'s long-term issuer default rating at A+ and short-term issuer default rating at F1.
The outlook is stable.
According to the agency, the ratings affirmation reflects the company's strong franchise, spend-centric business model, market position in the payments industry, solid asset quality, consistent profitability, diverse funding base, ample liquidity and strong risk-adjusted capitalization.
Fitch noted that ratings are constrained by limited revenue diversity and heightened legislative scrutiny of consumer products.
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