S&P affirms Prudential, core U.S. units

S&P said it affirmed its AA- ratings on Prudential Financial Inc. and its U.S. operating companies.

The agency also affirmed its A issuer credit rating on the group’s holding company and all of Prudential’s hybrids and debt instruments.

The company maintains a leading position in its core markets, a strong brand identity and a diversified risk profile, S&P said.

“In addition, we expect Fairfax to build on its competitive position, leveraging further the strength of its combined re/insurance operating platforms,” the agency said in a press release.

The outlook is stable, which reflects S&P’s expectation that the company will have adequate capital and liquidity to protect its solvency in a hypothetical Japanese sovereign default stress scenario.

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