Standard and Poor's upgrades AXA's credit rating
Standard and Poor's (S&P) has raised its long-term and short-term credit ratings on AXA. The former rating has been raised from "A" to "A+" while the latter has been raised from "A-1" to "A-1+".
The rating agency also assigned an "A+" financial strength rating to the French group. The outlook remains stable.
This decision follows AXA's receipt of all regulatory approvals to expand its business into reinsurance.
According to S&P, this initiative allows the insurer to diversify its cash flow to cover its financial commitments.
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Wed, 18/05/2022 - 10:57
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