Fitch assigns AIG debentures AA-

Fitch Ratings said it assigned an AA- rating to American International Group, Inc.'s $1 billion series A-5 junior subordinated debentures due December 2077.

The outlook is stable.

The agency said that the debentures will pay a fixed rate of interest until December 2047 and pay a floating rate based on Libor with quarterly resets thereafter.

Final maturity for the series A-5 debentures is initially December 2062, but can be extended at the sole option of AIG until December 2077, Fitch noted.

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