S&P affirms AIG

Standard & Poor's said it affirmed its A-/A-1 counterparty credit ratings on American International Group Inc., along with the A+ counterparty credit and financial strength ratings on its insurance subsidiaries, Chartis and SunAmerica Financial Group.

The outlook remains negative.

The ratings reflect the extraordinary support from the U.S. government in light of AIG's perceived status as a systemically important U.S. financial institution, S&P said

The ratings include a five-notch uplift from the company's stand-alone BB credit profile and takes into consideration the level of extraordinary government support, the agency said.

AIG's recently announced transactions reflect solid progress in its challenging restructuring plan, S&P added.

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