Winterthur's ratings have received a boost after the company's acquisition by Axa.
Fitch Ratings has lifted the Swiss insurer's ratings by one notch across the board — to Insurer Financial Strength ("IFS") 'AA-' (AA minus) and Issuer Default 'A+'. And Moody's has also upgraded Winterthur's IFS rating to Aa3 from A1.
Fitch has also removed the ratings from Rating Watch Positive and assigned them a Positive Outlook.
The ratings agency has indicated that Axa's support was instrumental in the reappraisal.
Axa's ratings have been affirmed.
