OLD MUTUAL LIFE ASSURANCE CO SA LIMITED - Old Mutual Life Assurance Company (South Africa) Limited Ratings Downgrade

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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