AIG fears further CDS losses
AIG could be exposed to further losses on the super-senior CDS portfolio held by its subsidiary AIG Financial Products should credit markets continue to deteriorate, according to a filing the company made to the SEC on June 29.
The insurer noted that such a hit to AIG's CDS portfolio "could have a material adverse effect" on the whole of the company's financial standing. Data from the US Federal Reserve shows delinquency rates for commercial loans jumping from 1.64% on June 30, 2007, to 6.40% on
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