Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. freshman Bad
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New words:
aforementioned, China, Concurrent, covenant, doubled, indenture, mentioned, reaching, simplify, source
Financial report summary
?Risks
- The impact of the COVID-19 pandemic and the measures implemented to contain the spread of the virus have had, and are expected to continue to have, a material adverse impact on American Express’ and Credco’s business and results of operations.
- Adverse financial market conditions may significantly affect Credco’s ability to meet liquidity needs, access to capital and cost of capital.
- The discontinuance of LIBOR may negatively impact Credco’s access to funding and the value of its financial instruments.
- Adverse currency fluctuations and foreign exchange controls could decrease the revenue Credco receives from its international operations.
- The risk management policies and procedures of American Express, Credco and the card issuers may not be effective.
- Credco is an indirect wholly owned subsidiary of American Express. As such, it is affected by the strategic decisions and operating performance of American Express.
- Credco is an indirect wholly owned subsidiary of American Express and any arrangements or agreements between the two entities are intended to be on arm’s-length basis, however, it may be difficult to find external comparable transactions negotiated by independent, unrelated parties with exactly the same terms.
- Credco and its subsidiaries are dependent on the card issuers that generate receivables.
- American Express’ business is subject to comprehensive government regulation and supervision, which could materially adversely affect Credco’s results of operations and financial condition.
- Tax legislative initiatives or challenges to American Express’ tax positions could adversely affect Credco’s results of operations and financial condition.