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.
NOT FOR REPRINT
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.