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AIG Credit Ratings Cut, Threatening Quest for Funds

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posted on Sep, 16 2008 @ 03:55 AM
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AIG Credit Ratings Cut, Threatening Quest for Funds


www.bloomberg.com

Sept. 16 (Bloomberg) -- American International Group Inc., the largest U.S. insurer by assets, had its credit ratings cut by Standard & Poor's and Moody's Investors Service, threatening efforts to raise emergency funds to keep the company afloat.

S&P lowered AIG's long-term counterparty rating three grades to A- because of ``reduced flexibility in meeting additional collateral needs and concerns over increasing residential mortgage-related losses,'' the rating company said yesterday. Moody's cut AIG's senior unsecured debt rating two grades to A2.

(visit the link for the full news article)




posted on Sep, 16 2008 @ 03:55 AM
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You can just follow the buyouts with these companies. There is talk of Goldman Sachs and JPMorgan coming up with funds to help AIG. So in a couple months it will be Goldman and JpMorgan looking for someone to bail them out.
I would be scared of anything Bank Of America, they bought out Countrywide and then they buyout Merril Lych. These 'Buy Outs' are really just private companies providing bail outs just like the Govt bought out Freddie and Fannie. Also watch for BofA and JPMorgan to get some kind of kick back for their 'buyouts'. Somehow I'm sure they will end up soaking the American people and provide golden parachutes for all the CEOs.

www.bloomberg.com
(visit the link for the full news article)



 
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