S&P Affirms AXA Group Ratings; Potential Share Offer.Business Editors LONDON--(BUSINESS WIRE)--Standard & Poor's March 30, 2000-- Standard & Poor's today affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. its single-'A'-plus/'A-1' counterparty Counterparty The other participant, including intermediaries, in a swap or contract. credit rating on AXA AXA Anguilla, Anguilla (Airport Code) AXA Alpha Chi Alpha AXA Animal Crossing Ahead (online forum community/guide to the game Animal Crossing) AXA Auxiliary Artery S.A., the holding company of the France-based AXA insurance group. At the same time, the ratings of all related entities were affirmed. The outlook on group entities is stable. The affirmation follows confirmation that discussions are taking place between AXA and the independent nonexecutive directors of Sun Life & Provincial Holdings (SLPH SLPH Sun Life & Provincial Holdings (insurance company) SLPH Standard Liters Per Hour (gas flow) )--the holding company for AXA group's life and nonlife operations in the U.K.--regarding a potential offer for the 43.7% of the shares in SLPH that it does not already own. Should this transaction come to completion, Standard & Poor's expects AXA group's overall capitalization, debt leverage, and interest coverage ratios to remain in line with the double-'A' financial strength rating of its main operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. . Full details of all group ratings are available via Standard & Poor's Ratings Desk on (44) 20-7826-3540 or RatingsDirect, Standard & Poor's Web-based credit analysis system.---CreditWire |
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