Business
AMP recovery ‘unlikely’: S&P downgrade – The Australian Financial Review
Global ratings agency S&P Global Ratings has downgraded a slew of AMP credit ratings, questioning the company’s governance standards and betting that “an upside scenario is unlikely in the next two years”.
“The AMP group faces increased risks of disruption to its strategic direction and its ability to effectively execute its strategy,” S&P analyst Nico de Lange said. “In our view, these challenges weaken the overall creditworthiness of the group.”
“The group is exposed to challenges that may disrupt its overall strategic direction and its ability to effectively execute its strategy,” Mr de Lange said.
“AMP group’s governance standards are adequate. Nevertheless, based on the recent developme…
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