Thursday, March 19, 2009
Moody's cuts Prudential to two notches above junk
Prudential Financial Inc (PRU.N) was downgraded to the second-lowest investment grade by Moody's Investors Service on Wednesday, which cited the large life insurer's reduced profitability and potential for more capital strain if conditions worsen.
Moody's lowered Prudential's senior debt rating by two notches to "Baa2" from "A3," and the insurance financial strength rating of its Prudential Insurance Co of America unit by two notches to "A2" from "Aa3." The outlook is "negative," meaning another cut is possible within two years...
Reuters: Moody's cuts Prudential to two notches above junk
Moody's lowered Prudential's senior debt rating by two notches to "Baa2" from "A3," and the insurance financial strength rating of its Prudential Insurance Co of America unit by two notches to "A2" from "Aa3." The outlook is "negative," meaning another cut is possible within two years...
Reuters: Moody's cuts Prudential to two notches above junk
Permalink posted by markw @ 4:32 AM 
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