Moody's gives Prudential notes Baa2

Moody's Investors Service said it rated Prudential Financial, Inc.'s (senior debt at Baa2, stable outlook) $1.25 billion senior debt issuance at Baa2 (stable outlook).

The proceeds of the proposed issuance are expected to be used for general corporate purposes, the agency added.

Although the new debt marginally increases Prudential's financial leverage, Moody's said that it views the issuance as a credit neutral event because financial leverage and coverage ratios are anticipated to remain within rating expectations.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.