November 2019
Revised long-term national scale credit rating

On 22 November 2019 S&P Global Ratings (“S&PGR”) revised its outlook on the foreign and local currency sovereign rating on South Africa to negative, from stable. On 26 November 2019 S&PGR subsequently revised the long-term national scale credit rating of OML to ‘zaA+’ from ‘zaAA-‘.

The ratings actions by S&PGR have also impacted the ratings of Old Mutual Life Assurance Company (South Africa) Limited’s subordinated deferrable debt, as detailed in a separate announcement released today.