Fitch Ratings has assigned an 'AA' rating to American
International Group, Inc.'s (AIG) proposed $500 million-$1 billion 30
year bond offering. The Rating Outlook is Stable.
Fitch's expectation is that AIG will use proceeds from the offer to refinance existing short-term debt and for general corporate purposes. Going forward, Fitch expects AIG to manage holding company leverage below 15%.
Fitch's ratings on AIG continue to reflect the company's very strong earnings power, significant franchises in life and non-life insurance both domestically and internationally, and very strong financial flexibility.
Yesterday, Fitch affirmed and removed from Rating Watch Negative, all of its ratings on AIG. Fitch's rating action reflected its belief that majority of the uncertainties that surrounded AIG throughout 2005 had been resolved and that the company's financial profile and competitive positioning remained supportive of its current ratings.
The following rating has been assigned by Fitch with a Rating Outlook of Stable:
American International Group, Inc.
-- Senior notes due 2036 Assigned 'AA'.
Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.
Fitch's expectation is that AIG will use proceeds from the offer to refinance existing short-term debt and for general corporate purposes. Going forward, Fitch expects AIG to manage holding company leverage below 15%.
Fitch's ratings on AIG continue to reflect the company's very strong earnings power, significant franchises in life and non-life insurance both domestically and internationally, and very strong financial flexibility.
Yesterday, Fitch affirmed and removed from Rating Watch Negative, all of its ratings on AIG. Fitch's rating action reflected its belief that majority of the uncertainties that surrounded AIG throughout 2005 had been resolved and that the company's financial profile and competitive positioning remained supportive of its current ratings.
The following rating has been assigned by Fitch with a Rating Outlook of Stable:
American International Group, Inc.
-- Senior notes due 2036 Assigned 'AA'.
Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.