PARIS (S&P Global Ratings) Sept. 30, 2021--S&P Global Ratings today said that its long-term ratings on AXA Bank Belgium (ABB; A-/Watch Neg/A-2) remain on CreditWatch with negative implications pending regulatory approval on its acquisition by Crelan S.A. (BBB+/Stable/A-2), a Belgium-based mutual banking group, which is taking much longer than expected. We placed the long-term rating on ABB on CreditWatch with negative implications on Oct. 30, 2019, upon the announcement of French insurer AXA Group that it had decided to sell ABB to Crelan (for more information, see "AXA Bank Belgium Downgraded To 'A-/A-2'; On CreditWatch Negative On Announced Disposal By AXA Group," published Oct. 30, 2019, on RatingsDirect). Although the existing plan anticipates transaction completion within the next several months,
