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AXA's Proposed Senior Unsecured 12-Year Fixed-Rate Notes Assigned 'A+' Rating May 01
Standard & Poors, May 2001
Abstract
PARIS (Standard & Poor's CreditWire) May 31, 2001--Standard & Poor's today assigned its single-'A'-plus rating to the proposed senior unsecured 12-year fixed-rate notes to be issued by AXA at a minimum value of -750 million. At the same time, Standard & Poor's affirmed all its ratings on AXA--the holding company of the global Paris-based AXA insurance group--including the single-'A'-plus long-term and 'A-1' short-term counterparty credit ratings. The rating on the issue reflects the underlying financial strength of the AXA group, whose principal operating entities are rated 'AA'. The proceeds from the proposed issue will be chiefly used to repay some of the short-term debt raised at the end of 2000 to part-finance the minority shareholders' buyout of AXA Financial Inc.,...
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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