S&P gives AIG notes AA

Standard & Poor's said it assigned its AA senior debt rating to American International Group Inc.'s $1 billion in 5.05% notes due Oct. 1, 2015 and $500 million in 4.7% notes due on Oct. 1, 2010.

At the same time, the agency said it affirmed its AA long-term counterparty credit rating on AIG. The outlook remains negative.

S&P said the ratings on AIG reflect its modest financial leverage, extremely strong interest coverage, consistent track record of very strong operating performance, very strong liquidity position and excellent franchise breadth, which positions it well to benefit from current market conditions.

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