Standard & Poor’s reaffirmed its A-/A-1 counterparty credit ratings for American International Group (NYSE: AIG) on Thursday. The rating firm also reaffirmed AIG’s A+ counterparty credit and financial strength ratings on its insurance subsidiaries including Chartis and SunAmerica Financial Group.
Today, Standard& Poor’s affirmed its ‘A-/A-1’ counterparty credit ratings on American International Group Inc. (NYSE: AIG). The firm also affirmed their ‘A+’ counterparty credit and financial strength ratings on its insurance subsidiaries, Chartis and SunAmerica Financial Group. The outlook remains negative.
S&P is also revising its assessment of AIG’s stand-alone credit profile to BB up from BB-. S&P’s outlook on the stand-alone credit profile remains positive. The stand-alone credit profile doesn’t factor in the federal bailout money that AIG received from the U.S. government.
“The counterparty credit rating on AIG reflects our opinion of the extraordinary support from the U.S. government in light of AIG’s perceived status as a highly systemically important U.S. financial institution, as well as our view of the company’s ‘A+’ rated multiline insurance subsidiaries,” said Standard & Poor’s credit analyst Kevin Ahern.
