American Express will issue $595 million of securities backed by credit card receivables in its first securitization of 2014.

Both Fitch Ratings and Standard & Poor’s have assigned preliminary ratings of ‘AAA’/AAA’ respectively to the class A and ‘A+’/ ‘AA+’ ratings to the class B notes. Class A and B certificates of series 2014-1 will be publicly offered and are structured with a weighted average life of five-years.

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