MMI GROUP LIMITED - MMIG - Notification of an Affirmation of the Credit Rating of the Issuer

MMIG - Notification of an Affirmation of the Credit Rating of the Issuer

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


NOTIFICATION OF AN AFFIRMATION OF THE CREDIT RATING OF THE ISSUER

Bondholders are advised that on 08 November 2018, Moody’s Investors Service (“Moody’s”) released
an updated credit opinion on MMIGL that affirms the global scale Insurance Financial Strength (“IFS”)
rating of Baa2, with a long-term rating of Baa3. Moody’s also affirmed the national scale IFS rating of
the Issuer at Aaa.za with the long-term issuer rating at Aaa.za and the unsecured subordinated notes
rating at Aa2.za.

It is worth noting that Moody’s national scale rating of Aaa.za is the highest rating in the country.
Moody’s commented that MMIGL’s rating reflects its top tier market position in South Africa, its solid
capital position and its flexible product characteristics which serve to reduce the impact on the group
from stress related to credit pressures at the sovereign level.

The full report has been made available at http://www.mmiholdings.co.za/en/investor-
relations/credit-ratings

15 November 2018

Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 15/11/2018 09:20:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.