S&P goes negative on AIG following Treasury sale
American International Group (AIG) has had the outlook on its A- rating downgraded to negative by Standard & Poor's (S&P) after the US Treasury sold $18bn of the company's stock.
S&P said the rating action had been taken because AIG was no longer being given credit for government support.
The US Treasury's stake in AIG fell to 21.5 percent on Monday (10 September) as it sold 553 million shares at $32.50 each, with the insurer buying back almost 153 million...
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