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Prudential Financial, Inc. Message Board

  • cpaacctg cpaacctg Mar 19, 2009 1:27 PM Flag

    S&P maintains BUY on PRU

    Moody's cuts PRU's debt rating by two notches to Baa2 from A3 and its financial strength rating to A2
    from Aa3. It cites PRU's diminished earnings power, weakened financial position, exposure to variable
    annuity guarantees as the reasons for the downgrade.We note that PRU has taken steps to improve its
    capital position and believe potential losses will be manageable.We believe PRU has the ability to
    downstream excess capital to its insurance subsidiary, and according to company estimates, has a $1.7B
    gain on the sale of its JV withWachovia, which is held off balance sheet.

85.12-0.51(-0.60%)May 22 4:07 PMEDT