Rating agency says insurer's capital position has been restored
Standard & Poor's has affirmed its AA+ counterparty credit and financial strength ratings for AIG's core operating subsidiaries, after the insurance group completed its capital raising of $17bn.
It said that the outlook on the ratings is negative.
AIG posted record losses of $7.8bn in the first quarter of this year.
In a statement S&P said that AIG had raised about $17 billion of a total $20 billion planned through the issuance of new common shares, equity units, and junior subordinated debentures.
S&P concluded the capital raised restored the firm to a very strong consolidated capital position.
