Standard & Poor's Ratings Services has affirmed American International Group's financial ratings, saying the insurer's ability to raise money to replace capital lost in the previous two quarters exceeded expectations.
The group's "AA-minus/A-1-plus" counterparty credit and senior debt ratings were affirmed and S&P removed those ratings from CreditWatch negative.
Meanwhile, AIG was hit with a lawsuit from a Florida pension fund, which accused the insurer of issuing "a series of false and misleading statements relating to the company's finances that artificially inflated the price of AIG securities."
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