A.M. Best Assigns Issue Credit Rating to Prudential Financial, Inc.’s Junior Subordinated Notes
Prudential Financial, Inc. (PRU)
Last prudential financial, inc. earnings: 2/4 04:18 pm
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US:NYSE Investor Relations:
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Company Research
Source: Business Wire
OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best has assigned a Long-Term Issue Credit Rating of “bbb” to the newly issued $1 billion 5.7% junior subordinated notes due 2048 of Prudential Financial, Inc. (PFI) (Newark, NJ) [NYSE: PRU]. The outlook assigned to this 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
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PRU
Earnings
- 2/6/24 - Miss
PRU
Sec Filings
- 4/16/24 - Form 8-K
- 3/28/24 - Form ARS
- 3/28/24 - Form DEF
- PRU's page on the SEC website