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AIG Guaranteed Investment Contract-Backed Ratings Off CreditWatch Negative Mar 09
Standard & Poors, March 2009
Abstract
NEW YORK (Standard & Poor's) March 4, 2009--Standard & Poor's Ratings Services removed its ratings on 20 housing bond issues listed below from CreditWatch with negative implication where they were placed on Oct. 3, 2008, because of their guaranteed investment contracts (GICs) with American International Group (AIG). At the same time, Standard & Poor's affirmed its ratings on the issues. These actions follow Standard & Poor's March 3, 2009, removal of American International Group from CreditWatch with negative implications. All affected bond issues receive partial support in the form of guaranteed investment contracts from American International Group, AIG Matched Funding, or AIG Financial Products Corp. Standard & Poor's examined all housing bond issues with partial credit support from the above-mentioned...
Companies mentioned in this report are: De Kalb Cnty Hsg Auth,Jefferson Parish Home Mtg Auth,San Bernardino,Massachusetts Development Finance Agency,New Mexico Mtg Fin Auth,St Cloud Hsg & Redev Auth,St. Paul Hsg & Redev Auth,Galveston Cnty Hsg Fin Corp,Essex Cnty Imp Auth,Southern California Home Fin Auth,Pulaski Cnty Pub Facs Brd,American International Group Inc.,AIG Financial Products Corp.,AIG Matched Funding Corp.,East Rochester Vill Hsg Auth,Green Cnty
Action: Removed From CreditWatch
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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