NU Online News Service, Dec. 1, 12:19 p.m. EST
American International Group, Inc. announced it had completed two previously announced transactions to reduce the debt AIG owes the Federal Reserve Bank of New York by $25 billion.
The announcement followed a drop in the company stock yesterday of nearly 15 percent after a Sanford C. Bernstein analyst said the company's property and casualty business had an $11.9 billion reserve deficiency.
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