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AXA Group Co.s' Ratings Raised to 'AA' From 'AA-'; Outlook Revised to Stable From Positive Dec 99
Standard & Poors, Dec 1999
Abstract
LONDON (Standard & Poor's CreditWire) Dec. 23, 1999-- Standard & Poor's today raised its counterparty credit and insurer financial strength ratings on the rated insurance operating companies of the AXA Group of France to double-'A' from double-'A'- minus. The outlook is revised to stable from positive (please refer to the full list of ratings below). Standard & Poor's also raised its ratings on the Equitable Life Co.s (see separate related press release on Equitable Assurance Society of the U.S.) The improved ratings reflect the group's extremely strong business position globally, excellent financial flexibility, and, although aggressive relative to certain major peers, its very strong capitalization. Partially offsetting these strengths is the earnings performance, which, although very strong and still improving,...
Action: Upgraded
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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