Fitch Ratings said Tuesday that it had affirmed and removed from rating watch-negative all of its ratings on American International Group Inc. and its subsidiaries.
Fitch put AIG on rating watch-negative in March 2005. In addition, Fitch said, it has assigned AA issuer default ratings to AIG and several downstream holding company subsidiaries, with a stable outlook.
Fitch said its rating action reflects its belief that most of the uncertainties surrounding AIG for the last 12 to 14 months have been resolved and that the company's financial profile and competitive positioning support the current ratings. Despite a year of management changes, investigations, restatements, reserve charges, regulatory settlements, and catastrophe losses, AIG generated net income of more than $10 billion last year and a return on equity of 12.3%, the ratings agency noted.
