Market Overview

A.M. Best Assigns Issue Credit Rating to Prudential Financial, Inc.'s New Junior Subordinated Notes

Share:

A.M. Best has assigned a Long-Term Issue Credit Rating of "bbb"
to the newly issued $500 million 5.625% junior subordinated notes of Prudential
Financial, Inc.
(PFI) (Newark, NJ) (NYSE:PRU). The outlook assigned
to the Credit Rating (rating) is stable. The existing ratings of PFI and
its subsidiaries are unchanged.

The proceeds from this debt issuance are expected to be used for general
corporate purposes. While this issuance is expected to have a modest
short-term negative impact on PFI's financial leverage and interest
coverage ratios, both remain within A.M. Best's guidelines for the
organization's current ratings. A.M. Best also notes that PFI currently
maintains above-average levels of liquidity.

This press release relates to Credit Ratings that have been published
on A.M. Best's website. For all rating information relating to the
release and pertinent disclosures, including details of the office
responsible for issuing each of the individual ratings referenced in
this release, please see A.M. Best's
Recent
Rating Activity
web page. For additional information
regarding the use and limitations of Credit Rating opinions, please view
Understanding
Best's Credit Ratings
. For information on the proper media
use of Best's Credit Ratings and A.M. Best press releases, please view
Guide
for Media - Proper Use of Best's Credit Ratings and A.M. Best Rating
Action Press Releases
.

A.M. Best is a global rating agency and information provider with a
unique focus on the insurance industry. Visit
www.ambest.com
for more information
.

Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its
affiliates. ALL RIGHTS RESERVED.

View Comments and Join the Discussion!