Fitch gives AIG note a 'AA-' rating |
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Wed, 07 Mar 2007 20:49
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CHICAGO (AP) - Fitch Ratings on Wednesday gave American International Group Inc.'s $1 billion junior subordinated note a 'AA-' rating, an investment-grade designation.The Series A-1 debentures, which are due March 15, 2087, will pay a 6.25 percent interest rate.The ratings outlook is stable.The debentures have a high equity component based on Fitch's hybrid rating criteria. They were designated class D by the ratings agency, with 75 percent of principal allocated to adjusted equity and 25 percent allocated to adjusted debt.Shares of American International Group, the world's largest insurer, dipped 10 cents to $69.48 in afternoon trading on the New York Stock Exchange26Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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