S&P rates Prudential Financial notes

Standard & Poor's said it assigned its A- senior unsecured debt rating to Prudential Financial Inc.'s $1 billion 10-year global note issue.

"The rating reflects PRU'S improving and diversified cash flows and relatively modest financial leverage, the exceptional scale of its businesses, and the extraordinary franchise of its primary subsidiary," said S&P credit analyst Kevin Ahern. "Offsetting these positive factors are the continued challenges PRU has faced in generating regular, profitable organic growth in its core businesses."

The proceeds of this issue will be used for the ongoing capital management of Prudential and its operating subsidiaries.

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