MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services said its
'A+/A-1' rating and stable outlook on American Express Co. will not be affected
by the company's announcement that it has settled its antitrust claims against
MasterCard.
American Express said Wednesday MasterCard will pay it as much as $1.8
billion to settle an antitrust lawsuit, as it warned credit losses may increase
as business conditions deteriorate.
S&P added it expects American Express and this sector in general to
experience continued asset-quality deterioration as a result of the cyclical
downturn in economic conditions.
TFN.newsdesk@thomson.com
npr
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