Moody's affirms AIG program

Moody's Investors Service said it affirmed its Aa3 rating (negative outlook) on the euro medium-term note program of American International Group, Inc., following the increase in program size to $31.5 billion from $20 billion.

The program has been expanded to accommodate the unused portion of a separate EMTN program that was established for AIG Financial Products Corp. and certain of its subsidiaries, the agency said.

Moody's said it has also assigned a rating of Aa3 (negative outlook) to $3.25 billion of 10-year notes issued by AIG under Rule 144A, adding that the proceeds will go to AIG Financial Products Corp. to be used for its general corporate purposes.

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