Fitch cuts Axa IFS outlook from stable to negative
Concerns about Axa's ability to improve profitability were cited for the move by Fitch Ratings to revise the outlook of the firm’s Insurer Financial Strength rating from stable to negative.
The group's IFS rating has been maintained at AA-, but the outlook has been downgraded for the parent company and all of its subsidiaries.
Explaining the move, the rating agency accepted that Axa
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