Fitch Ratings has affirmed and withdrawn the BBB+ issuer default rating with a stable outlook of AXA Financial Inc.

The rating agency has also affirmed and withdrawn the company's BBB senior unsecured debt.

The ratings have been withdrawn for commercial reasons, Fitch said.

The rating agency said the company's ratings reflect its strong business profile and balance sheet profile, along with its strong operating performance.

The ratings also consider AXA Financial's above-average equity market exposure, pressure from low interest rates on legacy in-force profitability and competitive challenges across the company's major business lines.