Moody's Reviews Prudential's Ratings

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Moody's Reviews Prudential's Ratings

by AP Associated Press - Dec 06,2007

NEW YORK (AP) -- Credit rating agency Moody's Investors Service said Thursday it is reviewing Prudential Financial Inc. for a potential upgrade because of improvements in two units.

Moody's said the review would focus on improved competitive position and profitability in Prudential's global insurance and asset-management units.

"Prudential's earnings power has improved and the company benefits from multiple sources of earnings and cash flow through business line, geographic and product risk diversification," Ann Perry, Moody's vice president and senior credit officer, said in a statement.

Prudential's long-term issuer and senior unsecured debt ratings of "A3," both investment grade, are among the ratings that could be upgraded after Moody's completes its review.

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Comments (1 posted)

What about their recent mailings to policyholders about an employee stealing millions of policyholders private information including social security numbers, dates of birth and other confidential information? I would think this would get national attention more than the gobs of money they rake in. Puzzled??

(Posted on November 2, 2006, 8:01 am D. A.)