AM Best has assigned Long-Term Issue Credit Ratings of 'a-' to the three newly issued senior unsecured notes of
The six-year
AM Best expects the proceeds from these debt issuances to be used for general corporate purposes, which include refinancing upcoming debt maturities for 2020 and 2021. The six-year
While AM Best expects the debt issuances to have a modest temporary negative impact on Prudential's financial leverage and interest coverage ratios, both remain within AM Best's guidelines for the organization's current ratings. AM Best also notes that Prudential currently maintains above-average levels of cash resources.
This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper media use of Best's Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best's Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in
(C) 2020 Electronic News Publishing, source