New York, July 25 (FinanceEnquiry.com) – Analysts at Moody’s Investors Service has affirmed debt ratings of Prudential Financial Inc (NYSE: PRU) and the insurance financial strength ratings of its life insurance operating subsidiaries at A2. The outlook on the ratings has been positive.
In a research note published yesterday, the analysts state that rating has been based on the solid brand name and leading market positions of the group for a number of life insurance offerings, which includes individual life insurance, variable annuities group life and retirement and stable value products.
PRU’s International Insurance segment includes its Japanese insurance business, which became an important contributor to the overall earnings for the enterprise in 2011. The rating agency also noticed that PRU continues to have sufficient liquidity at the holding of the company, which stood more than $3.0 billion of net cash.
However, the outlook on the ratings can be changed to stable due to investment losses of more than $500 million, total leverage has been expected to remain more than 40 percent and GAAP earnings coverage has not been expected to be more than 6 times.
PRU is an insurance and investment management organization, which has its headquarters in Newark, New Jersey and the total assets of $638 billion and total share holders’ equity of $35.5 billion, the analysts say.
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