S&P affirms AXA Seguros

Standard & Poor's said it affirmed the BBB+ global scale and mxAAA national scale financial strength and issuer credit ratings on AXA Seguros SA de CV (AXA Mexico).

The outlook is stable.

The ratings are based on the company's above-average business profile due to its strong market position in the non-life segment and good business diversification, S&P said.

The ratings also factor its satisfactory capitalization, improving operating performance and the adequate enterprise risk management practices that AXA Mexico adopts from AXA Group, the agency said.

S&P said the Mexican subsidiary is strategically important to AXA Mediterranean Holding SA and therefore to its ultimate parent company, AXA Group.

The credit constraints are currently volatile foreign-exchange rates and low interest rates, which could pressure the company's revenues, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.