The article doesnt say but A-2 ratings dont get access to the fed CP facility, not sure this is a big deal for them though http://www.bloomberg.com/apps/news?pid=20601087&sid=aloV3vCol018&refer=home
I've been involved with preferred stocks for many years and I know of none from American Express. They may exist but I'm unaware of any... and none are listed at Quantum Online which provides info on preferred stocks and other exchange traded income issues. What gives?