Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for American International Group, Inc. > News item |
Fitch rates AIG notes BBB+
Fitch Ratings said it expects to assign a rating of BBB+ to American International Group, Inc.'s issuance of $1.25 billion 3¾% senior notes due 2025, $500 million 4.7% senior notes due 2035 and $750 million 4.8% senior notes due 2045.
The outlook remains positive.
This new issue is rated equivalent to the ratings of AIG's existing senior debt, Fitch said.
The proceeds will be used for general corporate purposes, which may include the retirement of debt from a recent tender offer that AIG made for outstanding debt, the agency said.
AIG's consolidated outstanding debt fell significantly in 2014 due to the retirement of hybrid debt, significant reductions in operating debt and the elimination of debt related to the completed May 2014 sale of the International Lease Finance Corp. aircraft leasing operations, Fitch said.
AIG's financial leverage ratio was about 18% and is not anticipated to rise materially in 2015 from this level, 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.