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Standard and Poor's ratings update
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13 July 2020
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AMP Limited notes the 13 July 2020 announcement by Standard & Poor’s that it has lowered its ratings on AMP Limited and AMP Group Holdings Limited from BBB+ to BBB. All AMP Group entities remain on CreditWatch with negative implications. The rating assigned to AMP Bank by S&P has remained unchanged at BBB+.

The changes relate to the finalisation of the sale of AMP Life Limited which settled on 30 June 2020.

AMP continues to have a strong balance sheet and capital position, with Level 3 eligible capital

above minimum regulatory requirements of A$2.5 billion at 31 December 2019.

All credit ratings assigned to AMP by other ratings agencies remain unchanged.

  Moody’s1 Standard & Poor’s2

AMP Limited

-

BBB

AMP Group Holdings Limited/AMP Group Finance Services Limited

A3

BBB

AMP Bank Limited

A3

BBB+

1 Review for downgrade

2 CreditWatch Negative

Authorised for release by the Market Disclosure Committee.