Moody's assigns A3(hyb) rating to AXA's USD1 billion dated subordinated notes
London, 12 January 2017-- Moody's Investors Service has today assigned an A3 rating to the USD1 billion fixed to floating rate subordinated notes due 2047 to be issued by AXA under its EUR17 billion EMTN programme. The A3 rating reflects Moody's A2 senior debt rating of AXA and Moody's standard notching practices for such instruments. The notching reflects the subordination of the notes the optional and mandatory coupon skip mechanisms and the cumulative nature of deferred...
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