|
|
 |
|
Viewing report
|
|
|
|
AXA Group Lowered To 'AA-'; Capitalization And Operating Performance Recovering But Not Enough To Support An 'AA' Rating Mar 10
Standard & Poors, March 2010
Abstract
We believe that in recent months AXA group has made a strong recovery in earnings and capitalization, and that management's actions to restore profitability are likely to result in further improvements. However, we believe that such improvements are not fully commensurate with an 'AA' insurer financial strength rating. We are lowering ratings on the core operating entities of AXA group to 'AA-' from 'AA'. We are lowering the counterparty credit ratings on the holding company AXA to 'A' from 'A+'. The stable outlook reflects our opinion that the group's business fundamentals, earnings, management, and strategy are likely to counterbalance the pressure put on the ratings by capitalization. PARIS (Standard & Poor's) March 30, 2010--Standard & Poor's Rating Services said today...
Companies mentioned in this report are: AXA
Action: Downgraded
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.
|
|
|
|
