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.
|
Standard & Poor’s1 |
Moody’s |
AMP Limited |
BBB+ |
- |
AMP Group Holdings Limited/ AMP Group Finance Services Limited |
BBB+2 |
A23 |
AMP Bank Limited |
BBB+2 |
A22 |
AMP Life Limited |
A- |
A21 |
1 Negative Outlook
2 Short-term rating is A-2
3 Review for downgrade