"This post first appeared on September 15, 2008
I have no idea what the morrow will bring, but if it is only as bad as Monday’s trading, we should all consider ourselves lucky.
Ftich dowgraded AIG to A with a negative watch (hat tip reader Steve)
S&P downgraded AIG to A-2 with a negative outlook as reported on CNBC (hat tip readers Scott and Michael. I don’t see a link to a press release yet on S&P’s site). Update 9:15 PM, it’s now on Bloomberg. The cut was from AA- to A- on senior debt; the A-2 is the counterparty risk rating.
This downgrade triggers the requirement that AIG post more collateral. I am looking for confirmation, but this is what I saw in terms of consequences..."
at http://www.nakedcapitalism.com/2011/01/summer-rerun-brace-for-the-tsunami-fitch-sp-downgrade-aig-updated-again.html
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