S&P rates Prudential notes A

S&P said it assigned an A rating to Prudential Financial Inc.’s proposed medium-term notes, series E, due March 2051.

“We expect the company to use a portion of the proceeds from this issuance to acquire Assurance IQ. PRU had announced on Sept. 5, 2019, that it will use $0.68 billion of debt to finance this $2.35 billion acquisition. Additionally, PRU may use this issuance to refinance a portion of the group's $1.4 billion debt obligations that are scheduled to mature in 2020,” said S&P in a news release.

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