Business Wire - S&P Withdraws All American Life and Rltd ‘AA+’ Rtgs
Business Editors
NEW YORK–(BUSINESS WIRE)–Standard & Poor’s
Feb. 3, 2003–Standard & Poor’s Ratings Services said today that it withdrew its ‘AA’ ratings on Franklin Life Insurance Co., The American Franklin Life Insurance Co., All American Life Insurance Co., and American General Life Insurance Co. of New York, which are several of the life insurance subsidiaries of AIG Inc.
“These ratings were withdrawn because these entities have been merged into — and their obligations have been assumed by — other AIG life insurance subsidiaries,” explained Standard & Poor’s credit analyst Thomas Upton. Franklin Life Insurance Co., The American Franklin Life Insurance Co., and All American Life Insurance Co. were merged into American General Life Insurance Co. American General Life Insurance Co. of New York was merged into The United States Life Insurance Co. in the City of New York.
Complete ratings information is available to subscribers of RatingsDirect, Standard & Poor’s Web-based credit analysis system, at www.ratingsdirect.com. All ratings affected by this rating action can be found on Standard & Poor’s public Web site at www.standardandpoors.com; under Fixed Income in the left navigation bar, select Credit Ratings Actions.
Copyright 2003, Standard & Poor’s Ratings Services
