Fitch rates AIG debt A+

Fitch Ratings said it expects to assign an A+ rating to American International Group, Inc.'s junior subordinated debentures series A-6 due May 2068.

The outlook is negative.

The debentures will pay a fixed-rate of interest until May 2038 and pay a floating-rate based on three-month LIBOR with quarterly resets thereafter, the agency said. The series A-6 debentures are pari passu with previously issued series A-1 through A-5 junior subordinated debentures.

The proceeds are expected to be used for general corporate purposes, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.