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Moody's cuts American General Finance
Moody's Investors Service said it lowered the long-term senior debt ratings of American General Finance Corp. to Baa2 from Baa1.
The agency said that the short-term rating of American General Finance and the backed-commercial paper rating of CommoLoCo, Inc. were affirmed at Prime-2.
The Prime-2 short-term rating of American General Finance's direct parent, American General Finance Inc., was confirmed, Moody's said.
The outlook is negative.
The agency added that the rating action concludes the review for possible downgrade that was initiated on Oct. 3, in conjunction with rating actions taken at that time on the firm's ultimate parent American International Group, Inc.
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