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American Express Travel Related Svcs Co., Inc -- Moody's affirms American Express's A3 senior unsecured ratings, downgrades American Express National Bank's long-term deposit ratings to Aa3 due to reduction of loss-absorbing debt; outlook remains stable

Moody's Investors Service ("Moody's") has affirmed all of the ratings of American Express Company (Amex) and the rated subsidiaries, American Express Travel Related Services Co., Inc. (TRS) and American Express Credit Corporation (Credit Corp). Amex is rated A3 for senior debt.