S&P affirms American International Group

Standard & Poor's said it affirmed its AA counterparty credit and senior debt ratings on American International Group Inc.

At the same time, the agency said it affirmed its AA+ financial strength and counterparty credit ratings on AIG's core insurance operating subsidiaries.

The outlook remains negative.

S&P added that the ratings are based on the group's extremely strong and well-diversified global competitive position, consistent track record of strong operating performance, notwithstanding recent accounting restatements and strong organic growth in capital.

Somewhat offsetting these strengths are challenges relating to significant regulatory investigations that took place primarily in 2005, the agency said.

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