OLD MUTUAL LIFE ASSURANCE CO SA LIMITED - Ratings Revised
OML03 OML06 OML05 OML09 OML10 OML07 OML02 OML08 OML04 201708100035A
Ratings Revised
OLD MUTUAL LIFE ASSURANCE COMPANY (SOUTH AFRICA) LIMITED
Registration number 1999/004643/06
ALPHA CODE/BOLDM
OLD MUTUAL LIFE ASSURANCE COMPANY (SOUTH AFRICA) LIMITED’S LONG-
TERM NATIONAL SCALE RATING AND SUBORDINATED DEFERRABLE DEBT
ISSUANCE REVISED FOLLOWING STANDARD AND POOR’S CRITERIA UPDATE
Old Mutual Life Assurance Company (South Africa) Limited’s
(OMLACSA) long-term South African national scale rating was
revised to ‘zaAAA’ from ‘zAA-’, while its short-term rating was
revised to ‘zaA-1+1 from ‘zaA-1’. At the same time, its long-
term South Africa national scale issue rating on the
subordinated deferrable debt was revised to ‘zaAA’ from ‘zaA‘.
These ratings are effective from August 7, 2017.
These rating actions follow the revision of Standard and Poor’s
national scale ratings on South African insurers that were
labelled as under criteria observation (UCO) on July 27, 2017,
after recalibrating its national scale mapping table for South
Africa. At the same time, Standard and Poor’s removed the UCO
identifier on these ratings.
These rating actions do not reflect any change in the rating
agency’s view of the fundamental credit quality of OMLACSA or
its debt issues.
S&P published the new mapping table for South Africa and 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
10 August 2017
Debt Sponsor
Nedbank CIB
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