Fitch cuts AIG Finance Hong Kong to AA-

Fitch Ratings said it downgraded AIG Finance Hong Kong Ltd.'s long-term local currency rating to AA- from AA. The outlook is stable.

Fitch said the downgrade follows the downgrade of American International Group Inc.'s long-term issuer rating and unsecured senior debt ratings to AA+ from AAA on March 15, noting that AIG Finance's still very-solid rating is underpinned by that of its parent, AIG.

At the same time, Fitch affirmed AIG Finance's short-term local currency rating at F1+, its individual rating at C and its support rating at 1.

AIG Finance's individual rating reflects its adequate balance sheet strength and good management, according to Fitch.

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