DBRS rates American Express notes A

DBRS, Inc. said it has assigned a rating of A with a stable trend to American Express Co.’s $600 million issuance of subordinated notes due 2024.

The ratings are positioned one notch below the company’s issuer and long-term debt rating of A (high), which also carries a stable trend, the agency noted.

The company expects to use the net proceeds from the sale of the subordinated notes for general corporate purposes.

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