S&P: American General unchanged

Standard & Poor's said that its ratings on American General Finance Corp. (B/negative/C) and parent company American General Finance Inc. are unchanged after Fortress Investment Group acquired a controlling 80% interest in the firm.

Although asset quality remains significantly stronger than other subprime industry participants' and improved in 2010, S&P said it believes that provisioning is likely to remain a drag on earnings.

Liquidity also remains a concern; however, the company should be able to meet its near-term debt maturities through collections, on-balance-sheet securitizations, portfolio sales and future borrowings, the agency said.

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