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Fitch: Prudential notes BBB-
Fitch Ratings said it assigned a BBB- rating to Prudential Financial, Inc.'s issuance of $500 million of 5.75% junior subordinated notes due in 2052.
The proceeds will be used in part to refinance certain outstanding debt and for general corporate purposes, Fitch said.
The agency said the company's financial leverage is not affected by this transaction.
The company's financial performance and balance sheet fundamentals remain consistent with expectations, Fitch said.
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