Moody’s rates AIG notes Baa1

Moody’s Investors Service said it assigned a Baa1 rating to $420 million of 30-year notes being issued by American International Group, Inc. in the Taiwan market.

The notes are being offered outside of the United States to non-U.S. persons in accordance with Regulation S under the Securities Act of 1933, Moody’s said.

The proceeds will be used for general corporate purposes.

The outlook is stable.

AIG’s ratings reflect its leading market positions in global property casualty insurance, U.S. life insurance and U.S. mortgage insurance, Moody’s said, along with its broad diversification across products and geographic regions.

These strengths are tempered by the company’s record of weak profits and volatile reserves in property casualty insurance, above-average exposure to structured and alternative investments and the complexity of risk management across its many business lines and geographic regions, the agency said.

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