American International Group Inc., the insurer that repaid a U.S. bailout in late 2012, has been upgraded by Fitch Ratings after buying back bonds and improving results at its units.
The rating on senior debt was lifted to BBB+ from BBB as “earnings growth at the insurance subsidiaries and the repayment of higher coupon debt has led to significantly improved interest coverage,” Fitch said last Thursday in a statement on the New York-based insurer.
–Editor: Steven Crabill
Was this article valuable?
Here are more articles you may enjoy.