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Article: Fitch Downgrades AIG to 'A'; Remains on Rating Watch Negative.
- Article from:
- Business Wire
- Article date:
- September 15, 2008
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CHICAGO -- Fitch Ratings has downgraded the Issuer Default Rating (IDR) and outstanding debt ratings of American International Group, Inc. (AIG) as follows:
--Long-term IDR to 'A' from 'AA-';
--Senior unsecured debt to 'A' from 'AA-'.
--Short-term IDR to 'F1' from 'F1+';
--Commercial paper program to 'F1' from 'F1+'.
Fitch has also downgraded AIG's holding company and subsidiary debt and insurer financial strength (IFS) ratings. A full list of rating actions is detailed below. The ratings also remain on Rating Watch Negative by Fitch.
The rating actions reflect Fitch's view that AIG's financial flexibility and ...