American International Group Inc., New York, has lost its AAA long-term counterparty credit and senior debt ratings from Standard & Poor’s Ratings Services.[@@]
The New York office of the rating agency says it has lowered AIG’s long-term credit and senior debt ratings to AA plus.
The rating agency also says it has lowered its rating on AIG’s preferred stock to AA minus, from AA.
In addition, S&P says it has lowered its counterparty credit and financial strength ratings on most of AIG’s wholly owned subsidiaries to AA plus, from AAA.
“All of these ratings remain on CreditWatch with negative implications, where they were placed on March 15,” S&P says in its announcement of the rating changes.