2-Sep-2009 10:06 AM

ILFC rating under review for downgrade - S&P

Standard & Poor's confirmed it is continuing to review ILFC for downgrade from its current 'BBB' rating, due to concerns that plans for the unit by its parent, American International Group, have "become less clear cut" (Reuters, 01-Sep-2009). The rating agency believes AIG is assessing several options, including a break-up of the company. More risk is also present due to the potential of senior management, led by CEO Steven Udvar-Hazy, to leave the company to establish their own firm. ILFC has been for sale since late 2008.