NU Online News Service, Jan. 31, 9:53 a.m. – The New York office of Moody's Investors Service says it is changing its outlook for AXA, Paris, to negative, from positive, because of concerns about the effects of the world stock slump on the company's revenues and financial flexibility.
The company's senior debt now has a rating of A1.
But Moody's says it is maintaining a stable rating outlook for AXA Financial, the U.S. arm of AXA, because of AXA Financial's leading position in its market and its good average regulatory solvency level.
If stock prices stay low, the problems will affect creditors of the holding company more than they will affect insurance policyholders, Moody's says.
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