AMP Limited notes today’s announcement by Standard & Poor’s (S&P) that it has lowered its ratings on AMP Limited and its subsidiaries by one notch, reflecting the pending divestment of AMP Life.

AMP Limited’s rating has moved from A- to BBB+. S&P has replaced all ratings from CreditWatch with negative implications to Negative Outlook.

The changes are not material to the operations of AMP Limited.

AMP continues to have a strong balance sheet and capital position, with its Level 3 eligible capital above minimum regulatory requirements of A$1.7 billion at 30 June 2019.

¹ _{Negative Outlook}

² _{Short-term rating is A-2}

³ _{Review for downgrade}