Fitch Rates Prudential Financial Inc.'s Senior Debt Issuance 'BBB+'

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NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has assigned a 'BBB+' rating to Prudential Financial, Inc.'s (PFI) issuance of senior notes totaling $725 million. The existing ratings assigned to PFI and its subsidiaries are unaffected by this rating action. PFI's Rating Outlook is Stable.

Fitch expects that proceeds from the debt issuance will be used to pre-fund $715 million of debt maturing in 2012 and January 2013 and therefore does not view this issuance as an increase in leverage.

The ratings assigned to PFI ('A-' Issuer Default Rating) and its primary U.S. life insurance subsidiaries ('A+' Insurer Financial Strength rating) continue to reflect the company's strong competitive position in the U.S. and Japanese life insurance markets, strong statutory capitalization, and diversified earnings and cash flows from domestic insurance, international insurance, and asset management.

Fitch has assigned the following ratings:

Prudential Financial, Inc.

--$325 million 5.80% senior notes due Nov. 16, 2041 'BBB+';

--$400 million 4.50% senior notes due Nov. 16, 2021 'BBB+'.

Additional information is available at 'www.fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.

Applicable Criteria and Related Research:

--'Insurance Rating Methodology', September 22, 2011.

Applicable Criteria and Related Research:

Insurance Rating Methodology

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=651018

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