Moody's rates AIG debentures Aa3

Moody's Investors Service said it assigned Aa3 ratings to American International Group, Inc.'s proposed series A-2 sterling-denominated junior subordinated debentures and series A-3 euro-denominated junior subordinated debentures. Both debentures mature in 2067.

The outlook is stable.

Proceeds from the offerings are expected to be used for repurchasing shares of common stock.

The agency said AIG's ratings reflect its leading market positions in all major business segments, broad business and geographic diversification, strong earnings and cash flows and excellent financial flexibility.

These strengths are tempered by the intrinsic volatility in some general insurance and financial services business units and by the significant volume of spread-based investment business within the asset management segment, Moody's 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.