AIG averts downgrades with debt-for-equity swap

12/2/2009 | NYTimes.com

The Federal Reserve Bank of New York received a $25 billion stake in two of American International Group's foreign life insurance units. The move helps AIG reduce its massive debt load. Before the debt-for-equity swap, AIG was facing ratings downgrades.

View Full Article in:

NYTimes.com

Published in Brief: