PRU Slips on Downgrade – Zacks Tale of the Tape
Source: http://www.zacks.com/stock/news/18369/PRU+Slips+on+Downgrade+-+Zacks+Tale+of+the+TapePosted on Thursday, March 19th, 2009 | In Stocks to Watch
Contributed by: Zacks Market Commentaries (http://www.zacks.com/) -
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”).
“PRU” Free Stock Analysis: Buy? Sell? Hold?
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