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PRU Slips on Downgrade

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March 19, 2009 |Comments: 0
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PRU

Shares of Prudential Financial Inc. (PRU) tumbled as much as 19% today after Moody's Investors Service downgraded the company's senior debt rating by 2 notches on Wednesday.

The downgrade was driven mainly by the insurer's reduced profitability and sensitivity to more capital strain if conditions deteriorate. Moody's have also cut the long-term insurance financial strength rating of the company.

PRU is a Zacks #4 Rank ("Sell").

Read the full analyst report on PRU

 
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