Research Update: Chartis Group Ratings Lowered To 'A' From 'A+'; All Other AIG Ratings Affirmed; Outlook Revised To Stable Feb 11
Standard & Poors, February 2011
Abstract
Because the operating performance of AIG's Chartis companies has been lower than our expectations and will likely remain so, we now view the Chartis group as strategically important to the parent (like SunAmerica) rather than core as defined under our group methodology; as a result, we have lowered our ratings on Chartis to 'A' from 'A+'. By contrast, SunAmerica's competitive position and operating performance continues to improve, so we have affirmed the 'A+' ratings on these companies. The liquidity and the financial profile of AIG, the holding company, continue to improve as government support decreases, so we have also affirmed the 'A-' rating on AIG. In addition, we have revised the outlook on AIG and all of its operating companies...
Action: Downgraded
Action: Outlook: Stable
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Product Type: Research Update
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- American International Group Inc.
- SunAmerica Financial Group Inc.
- National Union Fire Insurance Co. of Pittsburgh, PA
- Commerce & Industry Insurance Co.
- Lexington Insurance Co.
- SunAmerica Life Insurance Co.
- American Home Assurance Co.
- Insurance Co. of the State of Pennsylvania
- Chartis Property Casualty Co.
- AIU Insurance Co.
- AIG Funding Inc.
- United States Life Insurance Co. in the City of New York
- AIG Financial Products Corp.
- AIG Matched Funding Corp.
- Western National Life Insurance Co.
- Variable Annuity Life Insurance Co.
- American General Life Insurance Co.
- Banque AIG
- American General Life & Accident Insurance Co.
- SunAmerica Annuity and Life Assurance Co.
- American General Life Insurance Co. of Delaware
- First Sunamerica Life Insurance Co.
- New Hampshire Insurance Co.
- Chartis Casualty Co.
- Chartis Specialty Insurance Co.
- Granite State Insurance Co.
- Illinois National Insurance Co.
- Landmark Insurance Co.
- ASIF II
- AIG Liquidity Corp.
- AIG Europe Ltd.
- AIG-FP Matched Funding Corp.
- American Home Assurance Co. New Zealand Branch
- Chartis Insurance Ireland Ltd.
- American General Institutional Capital A
- American General Institutional Capital B
- Chartis Select Insurance Co.
- American Home Assurance Co. Korea Branch
- ASIF III (Jersey) Ltd.
- American Home Assurance Co. Hong Kong Branch
- American Home Assurance Co. Malaysia Branch
- American Home Assurance Co. Singapore Branch
- New Hampshire Insurance Co. Hong Kong
- New Hampshire Insurance Co. Thailand
- Chartis Excess Ltd.
- Chartis Europe S.A.
- Springleaf Finance Inc.
- AIG SunAmerica Global Financing VI
- ASIF Global Financing XIX
- Chartis Europe (Netherlands) N.V.
- AIG-FP Matched Funding (Ireland) PLC
- AIG Asia Pacific Insurance Pte. Ltd.
- AIG Insurance Hong Kong Ltd.
- American General Assignment Services Trust
- American General Capital II
- AIG Taiwan Insurance Co. Ltd.
- AIG SunAmerica Global Financing X
- AIG-FP Capital Funding Corp.
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