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AXA Group's Ratings Affirmed Re: Announcement of Nippon Dantai Life Insurance Co. Acquisition Nov 99
Standard & Poors, Nov 1999
Abstract
LONDON (Standard & Poor's CreditWire) Nov. 29, 1999--Standard & Poor's today affirmed its ratings on entities of the AXA Group (see list below). The outlook remains positive. The affirmations follow today's announcement that the group is to acquire Nippon Dantai Life Insurance Co. Ltd., Japan (single-'B'-pi), for a consideration of -135 billion (US$1.3 billion) before March 2000 and up to -65 billion (US$0.6 billion) before March 2001. The acquisition is expected to be completed in the first quarter of 2000, and will enhance the AXA Group's position significantly in the Japanese market. Nippon Dantai is the 13th-largest Japanese life insurer, with a strong focus on the owners, executives, and employees of small and midsize companies, as well as the employees...
Action: Affirmed
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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