Fitch: American Express view negative

Fitch Ratings said it affirmed American Express Co.'s long-term issuer default rating at A+, short-term issuer default rating at F1, senior debt at A+, hybrid capital at A, individual rating at B, support rating at 5 and support no floor.

The outlook was revised to negative from stable.

The outlook revision reflects the expectation that rising credit costs and declining billed business volume will reduce earnings potential and capital generation over the near term, according to the agency.

The affirmation reflects a strong franchise, diverse funding base, ample liquidity, continued capital generation and stable risk-adjusted capitalization, Fitch said.

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