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AIG Upgraded by Fitch After Debt Buybacks, Improved Earnings

Feb. 27 (Bloomberg) -- American International Group Inc., the insurer that repaid a U.S. bailout in late 2012, was upgraded by Fitch Ratings after buying back bonds and improving results at its units.

The rating on senior debt was lifted to BBB+ from BBB as “earnings growth at the insurance subsidiaries and the repayment of higher coupon debt has led to significantly improved interest coverage,” Fitch said today in a statement on the New York-based insurer.

To contact the reporter on this story: Dan Kraut in New York at dkraut2@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

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