( CNN )- Standard & Poor's Ratings Services said its 'A+/A-1' ratings on American Express Co will not be affected by the company's announcement that it will acquire Corporate Payment Services (CPS) from General Electric Co or 1.1 bln usd cash.
CPS' services are similar in nature to those offered by AMEX's commercial card business unit and will enhance that unit by adding 300 customers, including GE itself, which has signed a multiyear agreement to become AMEX's client, S& P said.
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