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Fitch gives MMI notes A+(zaf)
Fitch Ratings said it has assigned MMI Group Ltd.'s proposed issue of ZAR1.5 billion of subordinated debt securities an A+(zaf) expected rating and affirmed MMI's outstanding subordinated debt at A+(zaf).
Fitch said it has simultaneously affirmed MMI's national insurer financial strength rating at AA+(zaf) and national long-term rating at AA(zaf) and MMI Holdings Ltd.'s national long-term rating at AA-(zaf).
The outlooks are stable.
According to the agency, MMI expects to use the proceeds of the proposed subordinated debt issue to support its strategic growth plans.
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