MOODY'S ASSIGNS PRIME-1 RATING TO SHORT-TERM DEBT OF AIG LIQUIDITY CORP.
New York, 05-02-95 -- Moody's Investors Service assigned a Prime-1 short-term debt rating to AIG Liquidity Corp., based on an unconditional guarantee from American International Group, Inc. AIG Liquidity Corp., formed in 1994 as a direct subsidiary of American International Group, Inc., will offer standby bond purchase agreements as liquidity support for municipal bonds. In addition to the strong credit quality and liquidity of the guarantor, the rating also reflects the integral role that AIG Liquidity Corp. will play in the derivatives business of AIG Financial Products Corp., says Moody's. AIG Financial Products Corp. markets a variety of standard and customized interest-rate, currency, commodity, and equity derivative products. The company also raises funds through municipal reinvestment contracts and invests the proceeds in marketable securities.
AIG Liquidity Corp. and AIG Financial Products Corp., based in Westport, Connecticut, belong to the financial services segment of American International Group, Inc., a leading U.S.-based international insurance organization, which reported consolidated assets of $114 billion and shareholders' equity of $16.4 billion as of December 31, 1994.
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