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AXA-UAP Proposed FRF6 Billion Sub Debt Rtd 'A-' by S&P Oct 97
Standard & Poors, Oct 1997
Abstract
LONDON -- Standard & Poor's CreditWire 10/30/97 -- Standard & Poor's has today indicatively assigned its single-'A'-minus rating to the FRF6 billion (US$1 billion approx.) Subordinated Perpetual Euro Note issue proposed to be made by AXA-UAP S.A. later this year. The rating reflects the underlying financial strength of the AXA-UAP group with its global insurance franchises, particularly strong management structures, sound consolidated capitalisation and good operating track-record and prospects. The proposed debt issue, given its subordination and other special features is deemed by Standard & Poor's to be essentially equity-like, and will be treated as available capital for the purposes of risk-based capital analysis. Standard & Poor's understands that the proposed subordinated debt will be issued at an appropriate market...
Companies mentioned in this report are: AXA
Action: New Rating
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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