S&P gives Prudential notes BBB+

S&P said it gave a BBB+ rating to Prudential Financial Inc.'s junior subordinated notes due 2053.

“The rating on the notes is two notches lower than the A senior debt and issuer credit ratings on the holding company, reflecting the subordination of these notes and the optional interest deferability feature,” the agency said in a press release.

Prudential intends to use the proceeds to retire its junior subordinated note that is callable in March 2024, and for general corporate purposes.

The outlook is stable.

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