OREANDA-NEWS. Fitch Ratings has assigned AXA S.A.'s EUR500m senior notes a 'A-' rating.

The notes are due 2028 and have a coupon of 1.125% per annum.

KEY RATING DRIVERS
Fitch views the issue as neutral to AXA's financial debt leverage, as the new notes are issued for refinancing purposes.

For senior unsecured debt, a baseline recovery assumption of 'below average' is applied with the notes' rating notched down once from the IDR.

RATING SENSITIVITIES
The notes' rating is subject to the same sensitivities that may affect AXA's Long-Term IDR (for more details, see 'Fitch Affirms AXA Entities' IFS at 'AA-'; Outlooks Stable' dated 6 October 2015 at www.fitchratings.com).

Fitch currently rates AXA as follows:

-Insurer Financial Strength Ratings of core insurance entities: 'AA-'; Outlook Stable
-Issuer Default Rating of AXA S.A.: 'A'; Outlook Stable

Date of Relevant Rating Committee: 27 April 2016