S&P affirms Prudential

Standard & Poor's said it affirmed its A+/A-1 long- and short-term counterparty credit ratings on Prudential plc.

At the same time, the AA long-term counterparty credit and insurer financial strength ratings on Prudential's core insurance operating subsidiaries, including the Prudential Assurance Co. Ltd. and Jackson National Life Insurance Co., were affirmed, the agency said.

In addition, all ratings were removed from Creditwatch, where they were placed with negative implications on March 1, following Prudential's announcement that it had agreed to acquire AIA Group Ltd. (not rated); an agreement that was later terminated on June 3, S&P added,

The outlooks are stable.

"The affirmation and resolution of the Creditwatch placement follows confirmation of Prudential's continuing very strong financial performance during the first six months of 2010," said S&P credit analyst Mark Button.

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