OLD MUTUAL LIFE ASSURANCE CO SA LIMITED - NEW CREDIT RATING AGENCY
OML03 OML06 OML05 OML09 OML10 OML07 OML02 OML08 OML04 201604260022A
NEW CREDIT RATING AGENCY
OLD MUTUAL LIFE ASSURANCE COMPANY (SOUTH AFRICA) LIMITED
(Registration number 1999/004643/06)
NEW CREDIT RATING AGENCY
Old Mutual Life Assurance Company (South Africa) Limited “(OMLAC(SA))”
advised note-holders on 19 January 2016 of the extended validity period to
30 April 2016 relating to the ratings assigned to OMLAC(SA) by Fitch Ratings.
OMLAC(SA) would like to advise that they have appointed Standard and Poor’s
(S&P) as their new credit rating agency.
S&P has today published the full rating report on OMLAC(SA)which is online
at: www.standardandpoors.com and www.oldmutual. Com.
As per S&P’s report, the ratings reflect OMLAC(SA)’s strong positioning in
the South African life insurance market, as demonstrated by its leading
positions in diversified product segments and its diversified sales forces.
Other credit strengths include OMLAC(SA)’s resilient balance sheet, resulting
from prudent capital and reserve buffer policies.
S&P has therefore assigned OMLAC(SA) a ‘zaAAA’ long-term South African
national scale counterparty credit rating and a ‘zaAA+’ South African
national scale issue rating to the 10 subordinated note issuances under the
South African (ZAR) 10 billion medium-term note program.
Johannesburg
26 April 2016
Debt Sponsor
Nedbank CIB
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