Old Mutual Limited S&P Global Ratings Credit Rating (1186M)
May 06 2020 - 5:00AM
UK Regulatory
TIDMOMU
RNS Number : 1186M
Old Mutual Limited
06 May 2020
Old Mutual Limited
Incorporated in the Republic of South Africa
Registration number: 2017/235138/06
ISIN: ZAE000255360
LEI: 213800MON84ZWWPQCN47
JSE Share Code: OMU
NSX Share Code: OMM
MSE Share Code: OMU
ZSE Share Code: OMU
("Old Mutual" or "the Company")
Ref 18/20
6 May 2020
S&P GLOBAL RATINGS CREDIT RATING
On 29 April 2020, S&P Global Ratings ("S&PGR") lowered
its long-term foreign-currency sovereign credit rating on the
Republic of South Africa to 'BB-' from 'BB' and affirmed the 'B'
short-term foreign-currency sovereign rating, with a stable
outlook. At the same time, the long-term local currency sovereign
credit rating for South Africa was lowered to 'BB' from 'BB+' and
the 'B' short-term local currency was affirmed, with a stable
outlook. In addition, S&PGR maintained the long-term South
Africa national scale rating at 'zaAAA' and affirmed the 'zaA-1+'
short-term national scale rating alongside a re-calibration of the
national scale rating.
Shareholders of Old Mutual ("Shareholders") are referred to the
Old Mutual Life Assurance Company (South Africa) ("OMLACSA")
announcement released today, 6 May 2020 advising noteholders
regarding the revised OMLACSA credit rating by S&PGR as
published on 4 May 2020.
Shareholders are further advised that S&PGR has affirmed the
national scale rating of Old Mutual at zaA+.
For commentary on detailed ratings, please refer to the
S&PGR's press release on their website:
www.standardandpoors.com.
Sandton
Sponsors
Johannesburg Stock Exchange Merrill Lynch South Africa (Pty) Limited
Namibia PSG Wealth Management (Namibia) (Proprietary)
Limited
Zimbabwe Imara Capital Zimbabwe plc
Malawi Stockbrokers Malawi Limited
Enquiries
Investor Relations
Sizwe Ndlovu T: +27 (0)11 217 1163
Head of Investor Relations E: tndlovu6@oldmutual.com
Tokelo Mulaudzi T: +27 (0)11 217 1161
Investor Relations Manager E: tmulaudzi3@oldmutual.com
Communications
Tabby Tsengiwe T: +27 (11) 217 1953
Head of Communications M: +27 (0)60 547 4947
E: ttsengiwe@oldmutual.com
Notes to Editors
Old Mutual is a premium African financial services Group that
offers a broad spectrum of financial solutions to retail and
corporate customers across key markets segments in 14 countries.
Old Mutual's primary operations are in South Africa and the rest of
Africa, and we have a niche business in China. With 175 years of
heritage across sub-Saharan Africa, we are a crucial part of the
communities we serve and broader society on the continent.
For further information on Old Mutual, and its underlying
businesses, please visit the corporate website at www.oldmutual.com
.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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