Fitch Ratings on May 24 maintained the BBB/F3 long- and short-term issuer default ratings of Old Mutual PLC on Rating Watch Negative, where they were placed in late November 2017.
The rating agency continues to assess the potential impact of unbundling wealth business Quilter PLC on Old Mutual's credit profile. The unbundling is part of Old Mutual's managed separation.
At the same time, Fitch affirmed the BB+ insurer financial strength rating of Old Mutual Insure Ltd., with a stable outlook. It also affirmed the AAA(zaf) national insurer financial strength ratings of Old Mutual Insure, Mutual & Federal Risk Financing Ltd. and Old Mutual Life Assurance Co. (South Africa) Ltd., all with stable outlooks.
