S&P affirms Prudential

Standard & Poor's said it affirmed the A/A-1 counterparty credit rating on Prudential Financial Inc.

The outlook is stable.

The affirmations follow the company's announced offering of $1 billion of series D medium-term notes, which followed the company's $1.25 billion offering of common stock earlier in the week, according to the agency.

"The debt and equity issuances increase Pru's total capital while enhancing liquidity and financial resources," S&P analyst Matthew Carroll said in a statement.

Ratings reflect the group's very strong competitive positions in the United States and Japan, very strong capitalization of U.S. insurance operating companies, diverse sources of earnings with strong fixed-charge coverage and effective control processes to manage key risks, the agency said.

Partially offsetting these strengths are earnings and capital sensitivity to equity market performance and potential investment losses resulting from the deteriorating credit markets, the agency noted.

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