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Prudential gets upgrade from Moodys!
On October 13, 2004, Moody's Investors Service upgraded The Prudential Insurance Company of America's insurance financial strength rating to Aa3 (Excellent) from A1 (Good). The good news for "The Prudential" follows A.M. Best's upgrade to a "Superior" rating of "A+" on February 19, 2004.
Moody's said that The Prudential Insurance Company of America's upgrade reflects the improvements to Prudential Financial, Inc.'s financial profile that have taken place over the recent past, including an improved business mix with a lowered risk profile, the potential for additional earnings growth and capital generation from both the company's long-standing core businesses and recent acquisitions, and strong risk adjusted capital at the various life insurance operating companies.
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