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: +27 (0)11 217 1163

E: tndlovu6@oldmutual.com



Tokelo Mulaudzi

T: +27 (0)11 217 1161

Investor Relations Manager

E: tmulaudzi3@oldmutual.com



Communications


Tabby Tsengiwe

Head of Communications

T: +27 (11) 217 1953

M: +27 (0)60 547 4947

E: ttsengiwe@oldmutual.com

 

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 .

 


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