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S&P rates Prudential notes A-
Standard & Poor's said it assigned an A- long-term debt rating to Prudential Financial Inc.'s (A+/stable/A-1) $800 million 9% fixed-rate hybrid retail notes with due June 2038.
Proceeds will be used for general corporate purposes.
The rating reflects the company's modest financial leverage, strong and diversified level of cash flow, strong fixed-charge coverage and the strength of its global insurance operations, the agency said.
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