American International Group Issuer Default Rating (IDR) as well as all holding company ratings and subsidiary debt ratings including International Lease Finance and American General Finance are still on Rating Watch Negative by Fitch Ratings. The rating agency said this after AIG announced its 4Q07 financial results. According to the release,the rating agency first placed AIG and its subsidiary debt ratings on Rating Watch Negative on Feb. 11 following the firm's acknowledgement in an 8-K filing that as of last Dec. 31, its independent auditor believed that the insurance firm had a material weakness in internal controls related to the valuation of AIG Financial Products Corp.'s super senior credit derivative portfolio. Obligations of AIG FP are guaranteed by AIG. AIG's 4Q'07 results, announced today, included a significant 4Q FAS 133 unrealized market valuation loss on the credit derivative portfolio compared to previous periods. The losses are concentrated in CDOs backed by structured finance (SF CDOs) collateral, mainly subprime U.S. RMBS. AIG recognized $10.9 billion in FAS 133 unrealized market valuation losses from this portfolio in the fourth quarter versus just $352 million in losses in the third quarter of 2007.