Fitch Eyes AIG-Related CDO Notes

Seven classes of notes from five collateralized debt obligations linked to AIG have been placed on Rating Watch Negative by Fitch Ratings. The affected securities are: class A1MM of G-Star 2002-1 Ltd./Corp.; classes A-1MM A and A-1MM B of G-star 2002-2 Ltd./Corp.; class A-1 of Lakeside CDO I Ltd./Inc.; classes A-1MM-a and A-1MM-b of Putnam Structured Products CDO 2001-1 Ltd.; and class A-1MM of TIAA Real Estate CDO 2003-1. Fitch said the short-term ratings on the CDO classes are supported by a put agreement from AIG Financial Products Corp., which in turn is guaranteed by AIG, the parent company. AIG's long-term Issuer Default Rating was downgraded from AA to AA-minus on May 8 and remains on Rating Watch Negative, while its short-term IDR was placed on Rating Watch Negative on May 8. Fitch can be found online at http://www.fitchratings.com.