S&P mulls Pru ratings cut over debt concerns

Fund managers have also expressed concern about the price Pru has paid to become the biggest insurer in Asia. S&P is concerned the deal will dilute one of Prudential's biggest ratings strengths, its successful UK business, according to reports. The ratings agency's long-term counterparty rating for Pru is A-plus, one of the highest, but this could be cut slightly on debt concerns. S&P says: "The transaction likely will have a material adverse impact on Prudential's key credit metrics, such as capitalization and fixed-charge coverage." LV Asset Management's Michael Crawford, who ...