Moody’s Investors Service has lowered its ratings on long-term senior debt issued by American International Group Inc. and some AIG units 1 notch.[@@]
Analysts in the rating agency’s New York office have lowered ratings on the parent company and subsidiaries such as American General Corp. and SunAmerica Inc. to Aa2, from Aa1.
So far, the Moody’s analysts are continuing to place an Aa1 insurance financial strength rating on AIG units such as American General Life & Accident Insurance Company, U.S. Life Insurance Company in the City of New York, Variable Annuity Life Insurance Company, and AIG Life Insurance Company, Moody’s says.
All of the ratings remain under review for possible downgrade because of concerns about AIG’s financial reporting, Moody’s says.
Until recently, Moody’s and its competitors assigned AIG their coveted Aaa ratings.