Moody's affirms AIG Financial

Moody's Investors Service said it affirmed the Aa2 ratings on the euro medium-term note program shared by subsidiaries of AIG Financial Products Corp., a wholly owned subsidiary of American International Group, Inc.

The program was amended to $20 billion from $10 billion and now includes issuer AIG-FP Matched Funding (Ireland) plc. Other permitted issuers are Banque AIG, AIG-FP Matched Funding Corp. and AIG-FP Capital Funding Corp.

The outlook is stable.

Proceeds will be used for general corporate purposes.

According to Moody's, the program ratings reflect an unconditional and irrevocable guarantee from AIG in favor of noteholders.

The agency said AIG's ratings reflect its leading market positions in all major business segments, its broad business and geographic diversification, and its strong earnings, cash flow and financial flexibility.

These strengths are tempered by some volatile general insurance and financial services business units and by the significant volume of spread-based investment business in the asset management segment, Moody's said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.