- Published: July 2011
- Region: Indonesia
Prudential Financial Inc. Junior Subordinated Notes Rated 'BBB+' Aug 12
- Published: August 2012
- Standard & Poors
NEW YORK (Standard & Poor's) Aug. 7, 2012--Standard & Poor's Ratings Services said today that it assigned its 'BBB+' junior subordinated debt rating to $1 billion of fixed-to-floating rate junior subordinated notes due 2042, issued by Prudential Financial Inc. (PRU). The notes are rated two-notches below our issuer credit rating on PRU, reflecting one notch for optional deferral and one notch for subordination to senior indebtedness, consistent with our hybrid ratings criteria. We will treat the notes as intermediate-equity content hybrids in our analysis because the notes allow optional deferral for up to five years, are subordinate to PRU's senior indebtedness, and have 30 years remaining to maturity. Consistent with our criteria, the notes will be treated as minimal equity-content...
Companies mentioned in this report are: Prudential Financial Inc.
Action: New Rating
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Research type: News
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Prudential Financial Inc.