Moody’s affirms Prudential debt

Moody's Investors Service said it affirmed the A2 senior unsecured debt rating of Prudential plc.

The outlook remains stable.

Moody's also affirmed the A3(hyb) subordinated debt ratings on all existing instruments including those, which were transferred to M&G plc (A2, stable) on Oct. 18.

“This rating action follows the completion of Prudential's demerger of M&G, its U.K. and Europe business, resulting in two separately-listed companies whereby Prudential's shareholders now participate in both groups with the same initial proportionate shareholding,” the agency said in a news release.

“Post demerger, Prudential remains present in a number of markets across Asia, Prudential's primary focus for growth, as well as the U.S., written out of Jackson National Life Insurance Co.”

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