NEW YORK (Bloomberg) — American International Group Inc., the largest US insurer, had the bonds of its plane-leasing and consumer finance units cut to "deteriorating" by Gimme Credit on prospects the businesses may be sold to raise cash.

The debt ratings of International Lease Finance Corp., the largest lessor of planes to airlines, and American General Finance Inc. were previously rated "stable" by analyst Kathleen Shanley.

"The continuing turmoil at parent company AIG clouds the outlook for the insurance giant's finance subsidiaries," Shanley said YESTERday in a note.

AIG posted three straight quarterly losses totaLling more than $18 billion and a 66-percent stock slide in New York trading this year because of writedowns tied to US housing. Chief executive officer Robert Willumstad said he will announce the results of a strategic review on September 25 and hasn't ruled out selling units, though he has said ILFC will remain with the New York-based company.