Moody's affirms Prudential

Moody's Investors Service said it affirmed Prudential Financial, Inc.'s senior debt at Baa2, along with the A2 long-term insurance financial strength ratings of Prudential Insurance Co. of America and its affiliates.

The outlook is stable.

The action follows news of Prudential's agreement to acquire AIG Star Life Insurance Co., Ltd. and AIG Edison Life Insurance Co. for $4.8 billion.

The affirmations are based on the strategic diversification and future cash-flow benefits that Star/Edison will bring to Prudential, Moody's said.

The acquisition further strengthens Prudential's market presence in Japan, diversifying its business mix away from the U.S. life insurance market, the agency said.

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