Bulletin: AXA?s Sale Of CEE Operations Is Unlikely To Shake Its Financial Strength - S&P Global Ratings’ Credit Research

Bulletin: AXA?s Sale Of CEE Operations Is Unlikely To Shake Its Financial Strength

Bulletin: AXA?s Sale Of CEE Operations Is Unlikely To Shake Its Financial Strength - S&P Global Ratings’ Credit Research
Bulletin: AXA?s Sale Of CEE Operations Is Unlikely To Shake Its Financial Strength
Published Feb 12, 2020
2 pages (1078 words) — Published Feb 12, 2020
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Abstract:

PARIS (S&P Global Ratings) Feb. 12, 2020--S&P Global Ratings said today that it believes global insurance group AXA's decision to sell its operations in Poland, Czech Republic, and Slovakia is line with the group's strategy of divesting non-core operations. We assume the sale of these operations in Central and Eastern Europe (CEE) will not have a material impact on AXA's consolidated earnings and capitalization. AXA (core operating entities rated AA-/Stable/--) announced on Feb. 7, 2020, the sale of its CEE operations to UNIQA group for about €1 billion, with the transaction expected to close by fourth quarter 2020. We believe the sale of the CEE business is consistent with AXA's intention to reduce financial leverage by €3.0 billion by year-2020

  
Brief Excerpt:

STANDARD & POOR'S, S&P and RATINGSDIRECT are registered trademarks of Standard & Poor's Financial Services LLC. S&P may receive compensation for its ratings and certain analyses, normally from issuers or underwriters of securities or...

  
Report Type:

Bulletin

Ticker
CS@FP
Issuer
AXA
GICS
Multi-line Insurance (40301030)
Sector
Global Issuers, Structured Finance
Country
France
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: AXA?s Sale Of CEE Operations Is Unlikely To Shake Its Financial Strength" Feb 12, 2020. Alacra Store. May 25, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-AXA-s-Sale-Of-CEE-Operations-Is-Unlikely-To-Shake-Its-Financial-Strength-2381135>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: AXA?s Sale Of CEE Operations Is Unlikely To Shake Its Financial Strength Feb 12, 2020. New York, NY: Alacra Store. Retrieved May 25, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-AXA-s-Sale-Of-CEE-Operations-Is-Unlikely-To-Shake-Its-Financial-Strength-2381135>
  
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