MMI GROUP LIMITED - Financial Services Board grants MMI Group Limited extension of the validity of its Fitch credit ratings

Financial Services Board grants MMI Group Limited extension of the validity of its Fitch credit ratings

MMI Group Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1904/002186/06)
Company code: MMIG

Financial Services Board grants MMI Group Limited extension of the validity of its Fitch credit
ratings

The Financial Services Board (FSB), as the Registrar of Credit Rating Agencies, announced the
cancellation of the registration of Fitch Southern Africa (Proprietary) Limited (“Fitch Southern
Africa”) as a credit rating agency with effect from 4 September 2015. This follows a request by
Fitch Southern Africa that their registration be cancelled. The cancellation of the registration
means that Fitch Southern Africa, or any other Fitch office or entity, will no longer issue credit
ratings for regulatory purposes in South Africa. Activities related to credit rating services,
including marketing and advertising of and canvassing for credit ratings by Fitch Southern Africa
are no longer permitted. To ensure continuity and to maintain financial stability, the ratings
issued by Fitch Southern Africa will be valid for a period of 4 months and ratings issued in
conjunction with another rating agency will be valid for a period of 14 days after the date of
publication of the notice of deregistration on the FSB’s website. Thereafter, Fitch clients will
need to seek a rating from another FSB registered credit rating agency.

MMI Group Limited has appointed another FSB registered credit rating agency to perform its
credit ratings. These credit ratings will be published in due course. In the meantime, the FSB
has extended the validity of the Fitch credit ratings of MMI Group Limited (Insurer Financial
Strength rating of ‘AA+(zaf)’), MMI Holdings Limited (National Long-term rating of ‘AA-(zaf)’),
Guardrisk Life Limited (Insurer Financial Strength rating of ‘AA+(zaf)’), Guardrisk Insurance
Company Limited (Insurer Financial Strength rating of ‘AA+(zaf)’) and Guardrisk International
Limited PCC (Insurer Financial Strength rating of ‘BBB+’) until 12 March 2016.

END

Contact: Lotz Mahlangeni
MMI Holdings Limited
Tel: 012 673 7693


9 December 2015

Debt Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

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