|
|
 |
|
Viewing report
|
|
|
|
Axa Re Finance S.A. Ratings Lowered to 'BBB'; Ratings Withdrawn Jan 03
Standard & Poors, Jan 2003
Abstract
NEW YORK (Standard & Poor's) Jan. 13, 2003--Standard & Poor's Ratings Services today lowered its financial strength and counterparty credit ratings on Axa Re Finance S.A. to 'BBB' from 'AAA' and removed the ratings from CreditWatch. The outlook is stable. The ratings were also withdrawn at management's request. In March 2002, the outlook for Axa Re Finance was changed to negative from stable in view of deteriorating business and underwriting conditions for the monoline reinsurers. Subsequently, in September 2002 Axa Re Finance's ratings were placed on CreditWatch in connection with the possible sale of the company. On Jan. 13, 2003, management, citing the weak business and underwriting environment for monoline reinsurers, and better capital allocation opportunities elsewhere within the group,...
Companies mentioned in this report are: AXA Group,AXA
Action: Downgraded
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.
|
|
|
|
