S&P boosts Prudential Financial outlook to positive

Standard & Poor's said it revised its outlook on Prudential Financial Inc. and operating companies to positive from stable.

At the same time, S&P said it affirmed its A/A-1 counterparty credit rating on Prudential Financial and its AA- counterparty credit and financial strength ratings on the operating companies: Prudential Insurance Co. of America, Pruco Life Insurance Co., Pruco Life Insurance Co. of New Jersey, American Skandia Life Assurance Corp., Prudential Retirement Insurance and Annuity Co., Prudential Life Insurance Co. Ltd. and Gibraltar Insurance Co. Ltd.

According to the agency, the rating on Prudential Financial reflects the sustainable cash flow strength and diversification from its operating companies in both the U.S. and Japan insurance markets.

S&P noted that the ratings on Prudential reflect the companies' very strong franchise in their insurance and retirement businesses, improving earnings reflecting economies of scale in its core business lines and extremely strong capitalization and liquidity.

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