Insurers hit by accounts probe

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Bondholders saw more cause for concern last month, as accounting irregularities at AIG and MBIA buffeted the insurance companies’ debt.

AIG delayed the filing of its 10-K report, now scheduled for end of April, and promptly lost its triple-A status with S&P and Moody’s. Fitch had downgraded the firm on March 15, citing negative circumstances surrounding recent government investigations into select business practices of AIG and its management.

Problems at AIG stem from investigations by the Securi

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