NU Online News Service, Jan. 24, 9:55 a.m. – Standard & Poor’s, New York, has affirmed its ratings of Prudential Financial Inc., Newark, N.J., and its subsidiaries, following the announcement that Prudential intends to buy back up to $1 billion of its common stock.

S&P says it believes that, even with the buyback, Prudential debt level will remain well within levels established by S&P as conservative.

Prudential should still have an adjusted debt-to-capital ratio of less than 20%, S&P says.