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Axa Re Finance S.A. 'AAA' Ratings Placed on CreditWatch Negative Sep 02
Standard & Poors, Sep 2002
Abstract
NEW YORK (Standard & Poor's) Sept. 17, 2002-Standard & Poor's Ratings Services today placed its triple-'A' financial strength and counterparty credit ratings on Axa Re Finance S.A. on CreditWatch with negative implications in response to management's notification that the shareholders of the company are contemplating a potential sale. Axa Re Finance is a reinsurer of financial guaranty and credit and surety insurance. Management has indicated that the sale will be structured to maintain a triple-'A' financial strength rating. Discussions are in relatively advanced stages with potential acquirers that are willing and able to structure the transaction to achieve a triple-'A' financial strength rating. In March 2002, the financial strength rating outlook for Axa Re Finance, as well as all the...
Companies mentioned in this report are: Axa Re Finance S.A.,BNP Paribas,AXA Re
Action: On CreditWatch:Negative
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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