OLD MUTUAL LIFE ASSURANCE CO SA LIMITED - Old Mutual Life Assurance Company (South Africa) Limited Ratings Downgrade
OML03 OML06 OML05 OML09 OML10 OML07 OML08 OML04 OML02 201712010031A
Old Mutual Life Assurance Company (South Africa) Limited Ratings Downgrade
OLD MUTUAL LIFE ASSURANCE COMPANY (SOUTH AFRICA) LIMITED
Registration number 1999/004643/06
ALPHA CODE/BOLDM
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) global scale rating was lowered to ‘BB+ Stable’ from
‘BBB- Negative’, its long-term South African national scale
rating was lowered to ‘zaAA+’ from ‘zaAAA’ while its short-
term rating was affirmed at ‘zaA-1+’.
At the same time, OMLACSA’s issuer credit 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 November 30,
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
01 December 2017
Debt Sponsor
Nedbank CIB
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