TEXT-S&P rates Prudential Financial subordinated notes 'BBB+'

(The following statement was released by the rating agency)

Aug 7 - Standard & Poor's Ratings Services said today that it assigned its
'BBB+' junior subordinated debt rating to $1 billion of fixed-to-floating rate
junior subordinated notes due 2042, issued by Prudential Financial Inc.
(PRU).

The notes are rated two-notches below our issuer credit rating on PRU,
reflecting one notch for optional deferral and one notch for subordination to
senior indebtedness, consistent with our hybrid ratings criteria. We will
treat the notes as intermediate-equity content hybrids in our analysis because
the notes allow optional deferral for up to five years, are subordinate to
PRU's senior indebtedness, and have 30 years remaining to maturity. Consistent
with our criteria, the notes will be treated as minimal equity-content hybrids
when they have fewer than 20 years remaining until maturity, and treated as
debt in our analysis at that time.

The issuer credit rating on PRU is two notches lower than the ratings on its
core operating companies. (Typically, the rating on a holding company is a
full category, or three notches, below the ratings on the operating
companies.) The nonstandard notching reflects PRU's diverse sources of
earnings and liquidity, as well as its strong fixed-charge coverage.

RELATED CRITERIA AND RESEARCH

-- Holding Company Analysis, June 11, 2009

-- Hybrid Capital Handbook: September 2008 Edition, Sept. 15, 2008

RATINGS LIST
Prudential Financial Inc.
Counterparty Credit Rating A/Stable/A-1

New Rating
$1 Bil. Fixed-to-Floating-Rate Notes Due 2042
Jr. Subordinated Debt BBB+

Complete ratings information is available to subscribers of RatingsDirect on
the Global Credit Portal at www.globalcreditportal.com. All ratings affected
by this rating action can be found on Standard & Poor's public Web site at
www.standardandpoors.com. Use the Ratings search box located in the left
column.

(New York Ratings Team)