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S&P: American Express unchanged
Standard & Poor's said that American Express Co.'s announcement that it will sell its international banking subsidiary, American Express Bank Ltd., to Standard Chartered plc will not affect the ratings on American Express.
Over time, the agency said it expects the transaction to have no bottom-line impact, although a $50 million after-tax charge will be recognized in the current quarter, offset by gains in future quarters.
The sale does not include any of American Express's card or travel businesses, S&P noted.
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