S&P assigns American International Group notes AA

Standard & Poor's said it assigned its AA senior debt rating to American International Group Inc.'s $1 billion of 6.25% senior notes due April 2036.

S&P said the rating reflects AIG's 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 optimize on current market conditions.

The proceeds are to be used to repay commercial paper issued in the first quarter of 2006 and for other general corporate purposes, the agency noted.

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