The ratings of American International Group Inc. (AIG), the most important worldwide insurance company, were reduced by the biggest agencies of financial assessment, which are warning that similar decisions could be taken in the forthcoming future.
"Moody"s Investors Service" lowered the AIG rating from "Aa3" to "A2". "Standard & Poor"s Ratings Services" also reduced the rating of the company from "AA -" la "A-", and also "Fitch Ratings". The decision of these companies comes as a consequence of AIG"s attempt to obtain financial resources, since they are dealing with tight circumstances because of the problems caused by the loan crisis, that led to the bankruptcy of the American investment bank "Lehman Brothers". It is possible that the modification of the ratings can render more difficult a financial agreement for the insurance company, which require very big sums in order to consolidate its financial balance sheet. New York"s governor announced that the insurance company will be allowed to receive resources of $20 million, and "JPMorgan Chase & Co" and "Goldman Sachs Group" Inc. could grant AIG a syndicated loan of $70-75 billion. AIG representatives refused to speak about the impact that the decision of the assessment agencies to lower the ratings would have for the insurance company. In the last 3 quarters, AIG reported financial losses of $18 billion.