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Fitch: Prudential notes BBB+
Fitch Ratings said it assigned a BBB+ rating to $1.2 billion of new senior unsecured notes issued by Prudential Financial, Inc.
The company's other ratings are unaffected.
The notes consist of $700 million 3.5% senior notes due 2024 and $500 million 4.6% senior notes due 2044.
The outlook is stable.
The proceeds from the debt issuance are anticipated to fund debt maturing in 2014, Fitch said. As a result, the company's financial leverage is not affected by this issuance, the agency said.
The company's balance sheet fundamentals remain consistent with expectations, Fitch said, and recent financial performance has exceeded rating expectations.
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