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BULLETIN: AXA Group Ratings Unaffected by Intended Purchase of Outstanding Stake in Subsidiary Aug 04
Standard & Poors, Aug 2004
Abstract
PARIS (Standard & Poor's) Aug. 6, 2004--Following AXA's (A/Stable/A-1) announcement today that it is making a conditional offer to the minority shareholders of 51%-owned subsidiary AXA Asia-Pacific Holdings Ltd. (not rated) to buy out their interests, Standard & Poor's Ratings Services said that its ratings and outlook on AXA group entities (main entities are rated AA-/Stable/--) would be unaffected by the contemplated transaction. This transaction, should it go through, is expected to enhance the AXA group's retained earnings prospectively, while having an immediate but limited negative impact on the group's risk-adjusted capitalization. AXA Asia-Pacific Holdings Ltd. is the holding company for all life operations of France-based global insurance group AXA in the Asia-Pacific region (excluding Japan). Standard & Poor's also...
Companies mentioned in this report are: AXA,AXA Re,AXA France IARD,AXA France Vie,PARIS RE Asia-Pacific Pte. Ltd.,AXA Versicherung AG,AXA Belgium,Friends Life Company Ltd
Action: Bulletin
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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