OLD MUTUAL LIFE ASSURANCE CO SA LIMITED - Credit rating announcement

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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