OLD MUTUAL LIFE ASSURANCE CO SA LIMITED - OMLACSA'S Ratings Downgraded
OML03 OML06 OML05 OML09 OML10 OML07 OML02 OML08 OML04 201704110008A
OMLACSA'S Ratings Downgraded
OLD MUTUAL LIFE ASSURANCE COMPANY (SOUTH AFRICA) LIMITED
Registration number 1999/004643/06
RATING DOWNGRADE TO OLD MUTUAL LIFE ASSURANCE COMPANY (SOUTH
AFRICA) LIMITED’S LONG-TERM NATIONAL SCALE RATING AND
SUBORDINATED DEFERRABLE DEBT ISSUANCE FOLLOWING THE SOVEREIGN
DOWNGRADE
Old Mutual Life Assurance Company (South Africa) Limited’s
(OMLACSA) long-term South African national scale rating was
lowered to ‘zaAA-’from ‘zAAA’ while its short-term rating was
affirmed at ‘zaA-1’. At the same time, its long-term South
Africa national scale issue rating on the subordinated
deferrable debt was lowered to ‘zaA’ from ‘zaAA-‘. These
rating actions follow Standard and Poor’s recent rating action
on South Africa and are effective from April 7, 2017.
S&P published the full report on various rating actions taken
on South Africa—based insurers and reinsurers. The report is
available online at: www.standardandpoors.com and
www.oldmutualplc.com
Johannesburg
11 April 2017
Debt Sponsor
Nedbank CIB
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