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BULLETIN: AXA Group to Acquire MONY Life Insurance Co. Sep 03
Standard & Poors, Sep 2003
Abstract
PARIS (Standard & Poor's) Sept. 18, 2003--Standard & Poor's Ratings Services said today that its ratings on the Paris-based group AXA and related entities (AA-/Stable/A-1) were unchanged, following the announcement from the group of the acquisition of MONY Life Insurance Co. (A+/Negative/NR) for a total consideration of $1,470 million. The acquisition will be entirely financed through the issuance of a mandatory convertible security that will be converted into AXA group new shares. Standard & Poor's believes that the acquisition is consistent with the group's strategy of reinforcing its position in growth markets through strengthening its distribution capabilities and enlarging its client base. Given the structure of the transaction, Standard & Poor's believes that it will not have an impact on...
Companies mentioned in this report are: AXA,MONY Life Insurance Co.
Action: S&P Event
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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