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Published on 3/1/2019 in the Prospect News Investment Grade Daily.

S&P downgrades AMP

S&P said it lowered its ratings on AMP Ltd. to A- from A and its ratings on the group's operating subsidiaries each by one notch. S&P also lowered the ratings on the group's associated debt by one notch.

At the same time, S&P said it placed all the ratings on CreditWatch with negative implications.

“We expect AMP group's creditworthiness after the sale of its life insurance business to be one or more notches weaker as its asset management, wealth management, and banking businesses will drive its financial and risk profile,” S&P said in a news release.


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