S&P rates Prudential notes A

Standard & Poor's said it assigned its A senior unsecured debt ratings to Prudential Financial Inc.'s $700 million medium-term notes due in 2024 and $500 million medium-term notes due in 2044.

The agency expects the company to use the proceeds from these offerings to fund senior debt maturing in 2014 and for general corporate purposes.

S&P said the ratings reflect its A counterparty credit rating on Prudential. The counterparty credit ratings on Prudential's nonoperating holding company are two notches lower than the ratings on the operating companies (typically, the rating on a U.S. holding company is a full category, or three notches, below the ratings on the operating companies).

The narrower notching reflects Prudential's diverse sources of earnings and liquidity from regulated U.S. and international insurance operations, as well as asset-management subsidiaries, which are largely unrestricted, the agency said.

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