Fitch joins Best and S&P in downgrading AIG
Fitch Ratings has downgraded the issuer default rating (IDR) and outstanding debt ratings of American International Group. Its long-term IDR has been downgraded to A from AA-; senior unsecured debt to A from AA-. short-term IDR to F1 from F1+; commercial paper program to F1 from F1+.
Fitch has also downgraded AIG's holding company and subsidiary debt and insurer financial strength (IFS) ratings. The ratings also remain on rating watch negative by Fitch.
In a statement Fitch said:
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