Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers O > Headlines for Old Mutual plc > News item |
Moody’s changes Old Mutual to negative
Moody's Investors Service said it affirmed the Baa1 insurance financial strength rating of Old Mutual Life Assurance Co. (South Africa) Ltd. and the Baa3 senior debt rating of Old Mutual plc.
The outlook was revised to negative from stable.
Moody’s said the actions follow its Dec. 15 revision of the Government of South Africa's (Baa2 negative) rating outlook to negative from stable to reflect deterioration in the credit profile of the sovereign.
The Old Mutual actions also reflect the weaker credit profile of the South African banking system, as well as the change in the outlook for its subsidiary, Nedbank Ltd. (Baa2, negative for long-term deposits) to negative from stable.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.