AMP Limited notes the 7 September 2020 announcement by Standard & Poor’s that it has lowered its ratings on AMP Limited and AMP Group Holdings Limited from BBB to BBB-. The rating assigned to AMP Bank by S&P has been lowered from BBB+ to BBB.
The outlook for AMP Group entities has improved to ‘stable’ up from ‘creditwatch with negative implications’.
AMP continues to have a strong balance sheet and capital position, with eligible capital
above minimum regulatory requirements of A$2.2 billion at 30 June 2020.
All credit ratings assigned to AMP by other ratings agencies remain unchanged.
1 Review for downgrade