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Fitch: AIG, ILFC on watch
Fitch Ratings said it placed the AA+ long-term issuer rating and unsecured senior debt obligations of American International Group Inc. on Rating Watch Negative. The commercial paper rating of AIG is affirmed at F1+ by Fitch.
Fitch has also placed the ratings of International Lease Finance Corp. on Rating Watch Negative.
Fitch said the rating actions reflect the developing situation at AIG, including the announcement that the company's 10K filing will be delayed beyond the March 31 extended due date to a date on or before April 30.
Fitch said it believes the delay in filing increases the possibility that additional items could surface as AIG continues the extensive review of its books and records.
The decision to place ILFC's ratings on watch reflects the fluidity of events occurring at the AIG level and the concern that the relative quality of support provided to ILFC if AIG's holding company rating is lowered, according to Fitch.
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