Moody’s changes M&G outlook

Moody's Investors Service said it affirmed M&G plc's A2 long term issuer rating, Prudential Assurance Co. Ltd.'s Aa3 insurance financial strength rating and M&G's related debt ratings.

The outlooks were changed to negative from stable.

“The change in outlook to negative reflects challenges the group faces in strengthening the performance of its retail savings and asset management divisions and growing new business volumes and profitability sufficient to improve its market position in line with similarly rated insurance and asset management peers,” the agency said in a news release.

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