Fitch: AIG on evolving watch

Fitch Ratings said it revised the Rating Watch on American International Group, Inc.'s A long-term issuer default rating to evolving from negative.

The action follows AIG's announcement that its board approved a deal for the Federal Reserve Bank of New York to provide the company with a two-year $85 billion secured revolving credit facility.

Fitch said it views the deal as a favorable development that alleviates significant near-term liquidity concerns.

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