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Article: Fitch Ratings Responds to AIG Developments; Ratings Remain on Rating Watch Negative.
- Article from:
- Business Wire
- Article date:
- May 31, 2005
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CHICAGO -- Fitch Ratings views today's 2004 10k filing by American International Group (AIG) as a modest positive development and a necessary step forward in addressing the various uncertainties that continue to surround the company.
Today's filing clarifies the magnitude of restatements and adjustments to AIG's financial statements and eliminates the need to receive additional waivers from banks and other counterparties with respect to the 10K filing. However, significant short-term and longer term uncertainties remain that may negatively affect AIG and its subsidiaries' credit quality. Therefore, the AIG ratings that Fitch placed on Rating Watch Negative on May ...