DBRS, Inc. (DBRS Morningstar) confirmed the ratings of American Express Company (Amex or the Company) including its Long-Term Issuer Rating at A (high) and Short-Term Issuer Rating at R-1 (middle). At the same time, DBRS Morningstar confirmed the ratings of American Express National Bank (the Bank), along with the Company's other main operating entities. The trend for all ratings is Stable. The Intrinsic Assessment (IA) for the Bank is AA (low), while the Support Assessment remains SA1. The Company's Support Assessment is SA3 and its Long-Term Issuer Rating is positioned one notch below the Bank's IA. KEY CREDIT RATING CONSIDERATIONS The ratings consider the Company's franchise strength which is supported by its leading brand recognition and defendable market position in the global payments industry, its earnings generation resilience, strong risk management, solid funding profile and sound capitalization.