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Prospect News home > News index > List of issuers A > Headlines for American International Group, Inc. (AIG) > News item |
Moody's assigns AIG debentures Aa3
Moody's Investors Service said it assigned a Aa3 rating to the proposed series A-5 junior subordinated debentures to be issued primarily for retail investors by American International Group, Inc. (senior unsecured debt at Aa2).
Proceeds from the offering are expected to be used primarily to repurchase shares of AIG common stock and otherwise for general corporate purposes, the agency said.
The outlook is stable.
Because of certain equity-like features contained in the debentures, the agency said it has accorded them "Basket D" treatment on Moody's Hybrid Debt-Equity Continuum and will consider them to be 75% equity and 25% debt for financial leverage calculations.
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