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Prospect News home > News index > List of issuers A > Headlines for American International Group, Inc. > News item |
Fitch revises AIG outlook to positive
Fitch Ratings said it affirmed American International Group, Inc.'s ratings, including the long-term issuer default rating at A-.
The agency also affirmed the ratings on AIG's senior debt obligations at BBB+. Additionally, it affirmed the insurer financial strength ratings of AIG's rated property/casualty insurance subsidiaries at A and the insurer financial strength ratings of the company's U.S. life insurance subsidiaries led by AGC Life Insurance Co. at A+.
The outlook was revised to positive from stable.
Fitch said the outlook revision reflects the improvement in AIG's capital position and debt servicing capabilities over the past several years. The agency believes AIG's leverage metrics are now on par with higher rated peers.
Improved earnings within the insurance operations and reductions in interest expense have led to better GAAP earnings-based interest coverage.
Continued earnings stability and coverage improvement are key factors considering towards future rating upgrade actions, the agency said.
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