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Moody's confirms AIG
Moody's Investors Service said it confirmed its long-term senior debt ratings on American International Group, Inc. at Aa2 and has revised the outlook for these ratings to stable.
The debt ratings of several supported entities and the insurance financial strength ratings of members of AIG's life insurance and mortgage insurance subsidiaries have also been confirmed with stable outlooks, the agency said.
Insurance financial strength ratings on members of AIG's domestic general insurance group remain on review for possible downgrade, pending the filing of amended financial statements for these companies with state regulatory authorities, Moody's said.
The short-term Prime-1 debt ratings of AIG Funding, Inc. and AIG Liquidity Corp. are not affected and are confirmed with stable outlooks, and the short-term (Prime-1) and long-term (senior unsecured at A1) ratings of the company's principal aircraft leasing and commercial and consumer finance subsidiaries (International Lease Finance Corp. and American General Finance Corp.) are likewise not affected and have been affirmed with stable outlooks, Moody's said.
Moody's said it commented previously that a favorable resolution of internal and external accounting reviews, including filing of the company's 10-K annual report with the SEC on or before May 31, would likely lead to a confirmation of the Aa2 senior debt rating.
The rating agency noted that the stable outlook is predicated on Moody's expectation that ongoing civil actions, regulatory investigations and associated costs will be manageable in the context of the group's overall earnings power, and will not implicate a broader group of current management.
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