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American Express Company Message Board

  • xfein xfein Apr 22, 2009 3:05 PM Flag

    AXP credit rating could be downgraded

    AXP credit rating could be downgraded. A few weeks ago they were put on watch after earnings the credit rating could be downgraded

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    • But analysts have warned that the improvement isn't necessarily indicative of a sustainable trend.

      "The pace of deterioration in the company's credit card portfolio surpassed that of peers in 2008, given the heavier exposure to borrowers in California and Florida, outsized portfolio growth in 2006 and 2007, and the inclusion of a higher-loss small business portfolio," Fitch said. "Deterioration will continue to outpace peers in 2009."

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