Moody's has affirmed the ratings outlook for Prudential Financial remains stable.
Moody's cited the solid capital position of the Prudential Insurance Company of America (PICA), which has cushioned the effects of recent equity market volatility.
The rating agency also said that the heavy equity market-orientation of the company's operations heightens the importance of capital adequacy at the insurance company.
The continued stable outlook for PICA depends on whether PFI limits stockholder dividends out of PICA in line with reported net income in 2002 ($228 million).
Moody's A3 senior unsecured debt rating on PFI is based primarily on the organization's improving strategic profile and growth in the international arena.
The rating agency also noted that as a public company, PFI is under substantial pressure to increase its return on equity, which could lead to actions that heighten credit risks for both policyholders and creditors of life insurance companies.
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