Moody's: Prudential stable

Moody's Investors Service said it affirmed the A2 senior debt rating on Prudential plc and changed its outlook to stable from negative.

The negative outlook, assigned in June 2010, had been primarily concerned with reputational damage and potential business slowdowns following the attempted AIA acquisition in 2010, the agency said.

The rating affirmation and revision to a stable outlook follows the group's strong financial performance in 2010 and reflects the resilience of the group's franchise, the agency added.

The outlook considers the expectation that Prudential will continue to maintain the strengths of its established businesses in the United Kingdom and United States and that Asia will continue to mature and provide an enhanced source of cash flows to the holding company, the agency said.

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