BULLETIN: No Chang to AMP Rtgs Following 2002 Results.Business Editors MELBOURNE--(BUSINESS WIRE)--Feb. 25, 2003 Standard & Poor's Rating Services said today that its ratings on the various AMP entities were unchanged following AMP's release of its 2002 full year results. On Feb. 12, 2003, Standard & Poor's lowered the rating on AMP Group Holdings Ltd., AMP Bank Ltd., NPI NPI National Provider Identifier, see there Ltd., and related ratings, in part reflecting the expectation of AMP reporting a loss of about A$900 million for the year to Dec. 31, 2002, as flagged by AMP management in January 2003. AMP will continue to be challenged by a difficult operating environment In computing, an operating environment is the environment in which users run programs, whether in a command line interface, such as in MS-DOS or the Unix shell, or in a graphical user interface, such as in the Macintosh operating system. for the foreseeable fore·see tr.v. fore·saw , fore·seen , fore·see·ing, fore·sees To see or know beforehand: foresaw the rapid increase in unemployment. future. In that context, AMP has undertaken a number of initiatives with respect to its U.K. businesses, which should reduce-but not eliminate-their vulnerability to stock market volatility. The Australian business (AMP Life Ltd., AA-/Negative/-) retains its strong market position and balance sheet structure, albeit amid a weakening weak·en tr. & intr.v. weak·ened, weak·en·ing, weak·ens To make or become weak or weaker. weak  en·er n. industry outlook. The outlook
assigned to the rating on AMP Life, AMP Group Holdings Ltd., NPI Ltd.,
and related ratings remains negative, reflecting the continued difficult
operating environment in the U.K., and uncertainty over the extent to
which U.K. equity markets will weigh on weigh onVerb to be oppressive or burdensome to: the expectations that weigh so heavily on diplomats' wives Verb 1. group strength. |
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