For debt investors

We’re committed to our debt investors, so we work hard to:

  • Consider your needs
  • Make our communications clear and concise
  • Respond quickly and thoroughly
  • Price fairly, for debt investors and for Standard Life Aberdeen.

Credit ratings

Standard Life Aberdeen plc

  • Issuer Credit Rating A / Stable from Standard & Poor’s
  • Issuer Rating A3 / Stable from Moody’s.

Standard Life Assurance Limited

  • Financial Strength Rating A+ / Stable from Standard & Poor’s
  • Insurance Financial Strength Rating A1 / Stable from Moody’s.

Aberdeen Asset Management plc

  • Issuer Default Rating A / Stable from Fitch.

For more information, visit the Standard & Poor’s , Moody’s and Fitch websites.

All information contained in Moody's Global Credit Research Reports is the copyright of Moody's Investors Service Inc. All information contained in Standard & Poor's Research Reports is the copyright of Standard & Poor's, a division of the McGraw-Hill Companies. All information contained in Fitch Ratings Research reports is the copyright of Fitch Ratings Inc.

Standard Life Aberdeen accepts no responsibility for the information contained in any of the reports. The information is provided for general information purposes only and not endorsed or promoted by Standard Life Aberdeen in any way.

Residential mortgage loans

From 1 January 2010, all Standard Life Bank mortgage balances are held within the Barclays Group.

Subordinated capital instruments

Subordinated capital instruments

We benefit from a strong capital position, and our subordinated debt is an important component of this. Our capital management strategy is to maximise shareholder value by optimising the level and mix of capital resources.

Issuance of subordinated capital instruments is a common capital-raising practice. Standard Life Aberdeen plc and its subsidiaries have in issue the instruments shown below:



Instrument rating


Issue Date

First Call Date



Standard Life plc

Standard Life Assurance Ltd

A3 / A- / -


July 2002

July 2027



Standard Life plc

Standard Life Assurance Ltd

Baa1 / A- / -


November 2004

January 2020



Standard Life plc


Baa1/ BBB+ / -


December 2012

December 2022



Aberdeen Asset Management plc


- / - / BBB


March 2013

March 2018



Standard Life Aberdeen plc-Baa1/ BBB+ / -$750mOctober 2017June 202830.5NC10.54.25%

As the instruments are subordinated, the rights and claims of our policyholders will come before those of the institutions investing in them.

Subordinated instruments documentation

Issuer / Bond

Launch Date


Historical Prospectus

Standard Life plc July 2002 £500m Offering Circular for Standard Life plc (GBP) – Jul-02 – (335KB)
Standard Life plc November 2004 £300m Offering Circular for Standard Life plc (GBP) – Nov-04 – (431KB)
Standard Life plc December 2012 £500m

Drawdown Prospectus – (410KB)

Final Terms – (86KB)

Aberdeen Asset Management plc March 2013 $500m

Prospectus for Aberdeen Asset Management plc 7% Perpetual Cumulative Capital Notes – (328KB)

Standard Life Aberdeen plcOctober 2017$750mProspectus for Standard Life Aberdeen plc 4.25% fixed rate reset subordinated notes