Recently Apple posted an announcement, according to this the intermediate certificate got expired on Feb 14th and has to be downloaded manually and should replace the older expired certificate in the System keychain.
I am unable to delete the existing certificate from the Keychain, leave alone importing the new one. How do I delete the old one and replace it with the new one?

Steps already followed: https://stackoverflow.com/a/35406327/1781918
I figured out how to resolve this issue.
First, I enabled the root user in my system
OS X Lion (10.7) and later
- From the Apple menu choose System Preferences.
- From the View menu choose Users & Groups.
- Click the lock and authenticate as an administrator account.
- Click Login Options.
- Click the "Edit" or "Join" button at the bottom right.
- Click the "Open Directory Utility" button.
- Click the lock in the Directory Utility window.
- Enter an administrator account name and password, then click OK.
- Choose Enable Root User from the Edit menu.
- Enter the root password you wish to use in both the Password and Verify fields, then click OK.
In the terminal, I logged in as root user
- Open Terminal
- Type
suand then press Enter- Enter the password you just set for the root user above. This will log you in as the root user
- Type
cd /Libraryand then press Enter- Type
chmod 777 Keychains/. This will change folder permissions for the Keychains folder- Now open the
Keychain AccessApp and delete theApple Worldwide Developer Relations Certification Authoritycertificate from theSystemkeychain- Import the renewed Intermediate certificate in your
loginkeychain- Close the Keychain Access app
Although, the certificate which you just deleted will appear again in the System keychain but all your other Developer and Distribution certificates will become valid again.
Make sure you set back the Keychains folder permission back to 755
chmod 755 Keychains/
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