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AXA/UAP CPA Rtgs Equalized at AA- After Merger Says S&P -1 May 97
Standard & Poors, May 1997
Abstract
LONDON -- Standard & Poor's CreditWire 5/28/97 -- Standard & Poor's today has lowered its claims-paying ability ratings of the principal AXA S.A. insurance operating companies to double-'A'-minus from double-'A', but has at the same time upgraded the claims-paying ability ratings of the UAP insurance group, in France, to double-'A'-minus from single-'A'. Standard & Poor's has also lowered to double-'A'-minus from double-'A', and removed from CreditWatch, the claims-paying ability ratings of its 51%-owned Australasian subsidiaries, National Mutual Life Association of Australasia Limited and Swann Life Insurance Limited. The ratings of the Equitable Companies in the U.S. are affirmed and removed from CreditWatch. Additionally, based on continued support from its new 100% shareholder, AXA S.A., the senior long-term rating of Banque...
Companies mentioned in this report are: AXA,AXA Equitable Life Insurance Company,AXA Re,Union des Assurances de Paris,AXA Group,AXA Corporate Solutions Reinsurance Co.,Compagnie Union des Assurances de Paris,Portman Insurance Ltd.,AXA Insurance U.K. PLC,AXA Belgium S.A.,Compagnie Generale de Reassurance de Monte Carlo
Action: Various Rating Actions
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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