Moody’s rates Axis offering
Moody's Investors Service has assigned a Baa3 rating to the $200m Series B Preferred shares to be issued by AXIS Capital Holdings. The net proceeds from the offering are expected to be used for general corporate purposes. Additionally, Moody's has assigned provisional ratings (senior debt at (P)Baa1) to the company's $1.5bn multi-issuer universal shelf registration. The outlook for the ratings is stable.
According to Moody's, AXIS Capital's ratings reflect the firm's established business platform, its good spread of risk in international insurance and reinsurance (primarily through subsidiaries basedOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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