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.
