S&P rates Prudential debt BBB+

Standard & Poor's said it assigned its BBB+ junior subordinated debt rating to the $650 million of junior subordinated notes due 2053 being offered by Prudential Financial Inc.

The notes are rated two notches below the issuer credit rating on Prudential, reflecting one notch for optional deferral and one notch for subordination to senior indebtedness, consistent with the hybrid ratings criteria, S&P said.

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