Why is an AM signal likely to be more noisy than a FM signal upon transmission through a channel?

Explanation

In case of AM, the instantaneous voltage of carrier waves is varied by the modulating wave voltage. So, during the transmission, noise signals can also be added and receiver assumes noise a part of the modulating signal.
In case of FM, the frequency of carrier waves is changed as the change in the instantaneous voltage of modulating waves. This can be done by mixing and not while the signal is transmitting in channel. So, noise does not affect FM signal.