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LONDON (MarketWatch) — Moody’s Investors Service late Thursday downgraded the
senior unsecured debt rating of American International Group, Inc. to Aa3 from
Aa2. The rating agency has also downgraded the ratings of several subsidiaries,
including those whose ratings have relied on material support from the parent
company, as well as those with significant exposure to the US residential
mortgage market. The rating outlook for AIG is negative, reflecting the company’s
exposure to further volatility in the US mortgage market as well as uncertainty
surrounding the strategic direction for AIG Financial Products Corp.

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Technorati Tags: Aig, American International Group, American International Group Inc, International Group Inc, London, Marketwatch, Material Support, Moody S Investors Service, Mortgage Market, Outlook, Parent Company, Residential Mortgage, Subsidiaries, Uncertainty, Unsecured Debt, Volatility