Old Mutual Limited Old Mutual Assigned Credit Rating (1922P)
October 08 2019 - 11:45AM
UK Regulatory
TIDMOMU
RNS Number : 1922P
Old Mutual Limited
08 October 2019
Old Mutual Limited
Incorporated in the Republic of South Africa
Registration number: 2017/235138/06
ISIN: ZAE000255360
LEI: 213800MON84ZWWPQCN47
JSE Share Code: OMU
MSE Share Code: OMU
NSX Share Code: OMM
ZSE Share Code: OMU
("Old Mutual" or the "Company")
Ref 44/19
08 October 2019
OLD MUTUAL ASSIGNED CREDIT RATINGS
On 8 October 2019, S&P Global Ratings ("S&PGR") assigned
Old Mutual a long-term South Africa National Scale issuer credit
rating of 'zaAA-' and a short-term South Africa National Scale
issuer credit rating of 'zaA-1+'. These are Old Mutual's maiden
ratings.
The ratings reflect the Old Mutual group's overall
creditworthiness and Old Mutual's structural subordination as a
non-operating holding company. Old Mutual Life Assurance Company
(South Africa) Limited's ("OMLACSA") resilient balance sheet and
the sound regulatory solvency ratios of both the Old Mutual group
and OMLACSA are also reflected in the rating. As at the end of June
2019, OMLACSA reported a solvency ratio of 218% and the Old Mutual
group reported a solvency ratio of 166%.
The full S&PGR credit rating report can be found at
https://www.spglobal.com/ratings/en/.
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 (11) 217 1163
Head of Investor Relations E: tndlovu6@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 it has a niche business in China. With over 174 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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