S&P downgrades AIG as earnings profile weakens

Standard & Poor's (S&P) has downgraded AIG as it
cited the insurer's previously flagged "material"
fourth-quarter reserve charge and what the ratings agency described
as a lower earnings profile going forward.
The holding company's long-term counterparty credit and
senior unsecured debt ratings were lowered one level to BBB+ from
A-, S&P said in a statement today. Ratings on AIG's core
subsidiaries remained unchanged.
The move takes the rating of the parent company one notch
further