Abstract: On Sept. 15, 2008, Standard&Poor's Ratings Services lowered its long-term counterparty rating on American International Group Inc. (NYSE:AIG) to 'A-' from 'AA-' and its short-term counterparty credit rating on AIG to 'A-2' from 'A-1+'. At the same time, Standard&Poor's lowered its counterparty credit and financial strength ratings on most of AIG's insurance operating subsidiaries to 'A+' from 'AA+'. All of these ratings remain on CreditWatch with negative implications, where they were placed on Sept. 12, 2008. The main reason for the rating actions is the combination of reduced flexibility in meeting additional collateral needs and concerns over increasing residential mortgage-related losses. Mark-to-market losses from mortgage-related investments and swap exposures have placed significant pressure on AIG's ability

Brief Excerpt: RESEARCH Ratings Definitions Research Update: American International Group Ratings Lowered And Kept On CreditWatch Negative Publication date: 15-Sep-2008 Primary Credit Analyst: Rodney A Clark, FSA, New York (1) 212-438-7245; rodney_clark@standardandpoo...

Report Type: Research Update
Ticker: AIG
Issuer: American International Group Inc.
GICS: Multi-line Insurance (40301030)
Sector: Global Issuers, Public Finance, Structured Finance
Country: United States
Region: United States
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 S&P Credit Research
S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.