A.M. Best Co.
A.M. Best Assigns Ratings to Prudential Financial, Inc.'s New Senior Unsecured Notes
Published in Health Business Week, October 2nd, 2009
A.M. Best Co. has assigned debt ratings of "a-" to the newly issued senior unsecured notes of Prudential Financial, Inc. (PFI) (Newark, NJ) (NYSE: PRU). The securities were issued in two tranches: $600 million 3.625% three-year notes and $900 million 4.75% six-year notes and issued at a slight discount to par. The notes were issued under PFI's medium-term note program. The outlook assigned to the ratings is negative. The ratings on PFI's domestic life/health insurance companies and existing debt securities are unchanged.
The proceeds from this debt issuance are expected to be used for general corporate purposes, including making loans and capital contributions to PFI's...
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Source: Health Business Week (2009-10-02)
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