Aug 29 (Reuters) - S&P:
* S&P- AMP LIFE DOWNGRADED TO 'A+'; AMP LTD. AND AMP GROUP HOLDINGS RATINGS AFFIRMED; OFF CREDITWATCH; OUTLOOKS NEGATIVE
* S&P-NEGATIVE OUTLOOK ON AMP LTD, ITS INSURANCE SUBSIDIARIES ON VIEW THERE IS POTENTIAL FOR FURTHER RATING PRESSURE RELATED TO GROUP'S CAPITALIZATION
* S&P- LOWERING AMP LIFE'S RATING REFLECTS A DETERIORATION IN CREDITWORTHINESS OF ENTIRE AMP GROUP AS RESULT OF FALLOUT FROM ROYAL COMMISSION REVELATIONS