S&P upgrades AIG Korea

Standard & Poor's said it upgraded AIG Korea Inc. to A+ from A to reflect its revision of the insurer's group status as a core subsidiary within American International Group Inc.

The outlook is stable.

S&P said it revised the insurer's group status to core from highly strategic under the group methodology criteria because of its improved operating performance.

The insurer's past operating performance was relatively weak compared to other group affiliates and local peers, the agency said.

This constrained its group status at highly strategic, although its operations are fully integrated into the group and it receives a similar level of operational support as the other core subsidiaries in the group, S&P 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.