Credit rating announcement:
OLD MUTUAL LIFE ASSURANCE COMPANY (SOUTH AFRICA) LIMITED
Registration number 1999/004643/06
JSE alpha code: OLDM
("OMLACSA" or the "Company")
28 November 2019
CREDIT RATING ANNOUNCEMENT
On 22 November 2019 S&P Global Ratings ("S&PGR") revised its outlook on the foreign and local currency
sovereign rating on South Africa to negative, from stable. Following this, on 26 November 2019 S&PGR
subsequently affirmed the long-term national scale credit rating of OMLACSA was unchanged at zaAAA'. The
global scale issuer credit rating and insurer financial strength rating of OMLACSA is also unchanged and has been
affirmed at zaBB+' and the outlook revised from stable to negative.
Furthermore, S&PGR has revised the national scale credit rating of OMLACSA's subordinated deferrable debt to
zaA+' from zaAA- .
Debt Sponsor: Nedbank CIB, a division of Nedbank Limited
Date: 28-11-2019 03:30:00
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