AIG close to new bailout deal; did rating agencies pre-approve it?

Insurance firm AIG (AIG) appears to have a deal with the federal government to get more capital and better terms on the money it has already borrowed. The $150 billion restructuring would also give taxpayers stakes in some of AIG's more financially healthy divisions. Reuters is reporting that AIG's board will meet today to vote on the deal, which could be announced Monday as part of AIG's earnings announcement.

But what may be the most interesting facet of this ongoing story is that, as a part of the overhaul, management and the government have gone to credit agencies to get the restructuring "pre-approved," according toThe Wall Street Journal.