Old Mutual Assigned Credit Ratings
Old Mutual Limited
Incorporated in the Republic of South Africa
Registration number: 2017/235138/06
JSE Share Code: OMU
MSE Share Code: OMU
NSX Share Code: OMM
ZSE Share Code: OMU
("Old Mutual" or the “Company”)
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
Johannesburg Stock Merrill Lynch South Africa (Pty) Limited
Namibia PSG Wealth Management (Namibia) (Proprietary)
Zimbabwe Imara Capital Zimbabwe plc
Malawi Stockbrokers Malawi Limited
T: +27 (11) 217 1163
Head of Investor Relations
Tabby Tsengiwe T: +27 (11) 217 1953
Head of Communications M: +27 (0)60 547 4947
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.
Date: 08/10/2019 05:45:00
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