American Express plans to issue $578 million of securities backed by credit card receivables in its second securitization of the year.

The deal, American Express Credit Account Master Trust, Series 2014-2, has been assigned preliminary ratings from Fitch Ratings.  The $500 million class A notes received ‘AAA’ provisional ratings and the $21.68 million class B notes will be rated ‘A+,’ while the $31.79 million class 1 notes were preliminarily rated ‘BBB+.’  The class A and B certificates of series 2014-2 will be publically offered. These three tranches of notes expect to mature in June 2017.

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