Deals
AIG ‘On the Mend’ Repays $3.5 Billion of Fed Debt Since April
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American International Group Inc. reduced the debt it owes on a Federal Reserve credit line by about $3.5 billion in the last three months, signaling an improvement in liquidity at the bailed-out insurer.
AIG owed $23.4 billion as of July 28, down from about $27 billion at the end of April, according to Fed data. The draw has declined for 10 of the past 12 weeks, the first time that has happened since the facility was established in 2008 as part of New York-based AIG’s first rescue.