S&P Global Ratings Credit Rating

RNS Number : 1186M

Old Mutual Limited

06 May 2020

 

Old Mutual Limited

Incorporated in the Republic of South Africa

Registration number: 2017/235138/06

ISIN: ZAE000255360

LEI: 213800MON84ZWWPQCN47

JSE Share Code: OMU

NSX Share Code: OMM

MSE Share Code: OMU

ZSE Share Code: OMU

("Old Mutual" or "the Company")

Ref 18/20

6 May 2020

S&P GLOBAL RATINGS CREDIT RATING

On 29 April 2020, S&P Global Ratings ("S&PGR") lowered its long-term foreign-currency sovereign credit rating on the Republic of South Africa to 'BB-' from 'BB' and affirmed the 'B' short-term foreign-currency sovereign rating, with a stable outlook. At the same time, the long-term local currency sovereign credit rating for South Africa was lowered to 'BB' from 'BB+' and the 'B' short-term local currency was affirmed, with a stable outlook. In addition, S&PGR maintained the long-term South Africa national scale rating at 'zaAAA' and affirmed the 'zaA-1+' short-term national scale rating alongside a re-calibration of the national scale rating.

Shareholders of Old Mutual ("Shareholders") are referred to the Old Mutual Life Assurance Company (South Africa) ("OMLACSA") announcement released today, 6 May 2020 advising noteholders regarding the revised OMLACSA credit rating by S&PGR as published on 4 May 2020.

Shareholders are further advised that S&PGR has affirmed the national scale rating of Old Mutual at zaA+.

For commentary on detailed ratings, please refer to the S&PGR's press release on their website:  www.standardandpoors.com.

Sandton

Sponsors

Johannesburg Stock Exchange	Merrill Lynch South Africa (Pty) Limited
Namibia	PSG Wealth Management (Namibia) (Proprietary) Limited
Zimbabwe	Imara Capital Zimbabwe plc
Malawi	Stockbrokers Malawi Limited

Enquiries

Investor Relations
Sizwe Ndlovu Head of Investor Relations	T: [phone] E: [e-mail]
Tokelo Mulaudzi	T: [phone]
Investor Relations Manager	E: [e-mail]
Communications
Tabby Tsengiwe Head of Communications	T: [phone] M: [phone] E: [e-mail]

Notes to Editors

Old Mutual is a premium African financial services Group that offers a broad spectrum of financial solutions to retail and corporate customers across key markets segments in 14 countries. Old Mutual's primary operations are in South Africa and the rest of Africa, and we have a niche business in China. With 175 years of heritage across sub-Saharan Africa, we are a crucial part of the communities we serve and broader society on the continent.

For further information on Old Mutual, and its underlying businesses, please visit the corporate website at www.oldmutual.com .

 

END

 

 

MSCGCGDUSSGDGGL