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Moody s raises outlook for Prudential to stable on group supervision
Fri, 14th May 2021 21:14
(Alliance News) - Moody s Investors Service on Friday changed its outlook on Prudential PLC to stable from negative, but affirmed its long-term credit ratings at A2.
The credit agency s action follows the Insurance Authority of Hong Kong s announcement to designate Prudential Corp Asia Ltd as the designated insurance holding company under the group-wide supervision framework implemented on March 29.
The outlook change reflects Moody s view that the implementation supports the narrower notching that is already applied to Prudential s senior unsecured debt rating, in line with the agency s methods where the group is supervised under an enhanced group supervisory regime.