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Moody’s rates Prudential notes Baa1
Moody's Investors Service said it assigned a Baa1 (hyb) rating to Prudential Financial, Inc.'s anticipated sale of junior subordinated notes. The fixed-to-fixed reset rate notes will mature in 2053.
Prudential will use the proceeds for general corporate purposes, which may include the redemption or repurchase of $500 million of junior subordinated notes maturing in 2044, which are also rated Baa1 (hyb).
The outlook is stable.
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