Fitch affirms Prudential

Fitch Ratings said it affirmed Prudential plc's long-term issuer default rating at A+, short-term issuer default rating at F1, junior subordinated debt at BBB+, perpetual subordinated capital securities at BBB+ and senior debt at A.

The outlook is stable.

The affirmation reflects Prudential's very strong and resilient capital position, operational scale and strong business position in each of its key markets, the agency said. Prudential has strong cash generation and a strategy focused on high-margin products with short pay-back periods.

Partially offsetting these positive factors is the company's relatively high exposure to credit risk, longevity risk and adverse policyholder behavior risk, the agency added.

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