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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.