S&P: American Express unaffected

Standard & Poor's said its ratings on American Express Co. (BBB+/negative/A-2) are unaffected by the company's improved, but still muted, fourth-quarter results.

American Express' fourth-quarter performance continued its improvement from the third quarter, but the agency said it also reflected the wider trends S&P sees in the consumer credit business. S&P said it doesn't consider this to indicate that the company has overcome the current credit cycle, although the agency does take comfort in American Express' incrementally improving consumer credit quality results.

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