Moody's rates Prudential Financial debt Baa2

Moody's Investors Service said it assigned Prudential Financial, Inc.'s (senior debt at Baa2/stable) $800 million senior debt issuance a Baa2 rating.

The proceeds of the proposed issuance are expected to be used for general corporate purposes and refinance an upcoming debt maturity.

The debt serves as a refinancing of $350 million of debt maturities coming due in December 2011, and Moody's said it views it as a credit neutral event.

Prudential's Baa2 senior unsecured debt rating and the A2 insurance financial strength rating of its U.S. life insurance operating companies are based primarily on the group's strong brand name and leading market positions for a number of life insurance offerings, including individual life insurance, variable annuities, group life and retirement and stable value products, the agency said.

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