S&P affirms AIG ratings

Standard & Poor's said it affirmed its AAA counterparty credit rating on American International Group Inc. and its ratings on various AIG operating companies.

The outlook is stable.

"The ratings on AIG and its wholly owned subsidiaries are based on AIG's well-diversified business position, track record of excellent operating performance (notwithstanding the unprecedented World Trade Center losses and restructuring charges in 2001 as well as the non-life loss reserve development in 2002 and 2003), and strong growth in capital," said S&P credit analyst Grace Osborne.

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