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MOMENTUM METROPOLITAN HOLDINGS LIMITED - MTM MMT MMIG - Notification of the affirmation of Momentum Metropolitan Lifes credit ratings

Release Date: 17/12/2020 14:30
Code(s): MTM MMIG05 MMIG04 MMIG02 MMIG07 MMIG06 MML02 MML01     PDF:  
Wrap Text
MTM MMT MMIG - Notification of the affirmation of Momentum Metropolitan Life’s credit ratings

Momentum Metropolitan Holdings Limited
Incorporated in the Republic of South Africa
Registration number: 2000/031756/06
JSE & A2X Share Codes: MTM
NSX Share Code: MMT
ISIN: ZAE000269890
(“MMH” or the “Group”)

Momentum Metropolitan Life Limited
Incorporated in the Republic of South Africa
Registration number 1904/002186/06
Company code: MMIG
(“MML” or the “Issuer”)


Shareholders of Momentum Metropolitan Holdings and noteholders of the Issuer are hereby advised that the
Issuer’s credit ratings assigned by Moody’s Investors Service (“Moody’s”) were affirmed on 15 December 2020
as follows:

    -     Insurance Financial Strength (“IFS”) rating at Ba1;
    -     Long-term Issuer rating at Ba2;
    -     Subordinated debt at Ba3(hyb); and
    -     Backed Subordinated debt at Ba3(hyb).

Moody’s indicates that MML’s Ba1 IFS rating reflects its top tier market position in South Africa, solid capital
position and flexible product characteristics which mitigate the impact from credit stresses at sovereign level.
The Issuer’s credit rating remains linked to the South African economy and sovereign debt instruments.

The outlook for MML's global scale ratings is negative and reflects the negative outlook on the South African
sovereign debt, and the exposure of MML to the South African sovereign debt and economy.

The full credit rating report has been made available at the below link:

17 December 2020

Sponsor in South Africa
Merrill Lynch SA (Pty) Limited

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

Date: 17-12-2020 02:30:00
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