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Fitch: rating on AIG revised up on Fed loans
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16:37, September 17, 2008

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Fitch Ratings, one of the leading international rating agencies, said on Sept. 17 that it has revised its Rating Watch on American International Group, Inc. (AIG) to Evolving from Negative.

Fitch's action follows AIG's announcement that its board has approved a transaction under which the Federal Reserve Bank of New York will provide AIG with a two- year $85 billion secured revolving credit facility. Fitch views this transaction as a favorable development that alleviates significant near-term liquidity concerns. The agency plans to issue a more detailed analysis in support of this action later today.

By People's Daily Online

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