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ICRA ups American Express Bank's rating to A1+

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New Delhi, Apr 17 (UNI) Credit rating agency ICRA has assigned an A1+ rating to the Rs 1,500 crore Certificate of Deposits programme of the Indian branches of American Express Bank Ltd (AMEX).

The rating draws from the strengths of AMEX, rated A2 for senior unsecured debt and A2 for issuer rating with stable outlook by Moody's Investor's Service.

The short-term rating is also supported by the comfortable liquidity profile of the Indian operations with favourable asset liability profile and available interbank lines to the Indian operations and factors in the strong franchise in the credit and charge cards globally.

AMEX, a wholly-owned indirect subsidiary of American Express Company, offers a portfolio of credit cards, personal loan products, travellers cheques and a range of banking and travel related services.

It also offers correspondent banking relationships to foreign banks located outside India.

UNI PV SR HT1432

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