Fitch Upgrades Prudential's Ratings to AA
MT Newswires Live09:19
Prudential (HKG:2378) has received a ratings upgrade from Fitch Ratings to 'AA-' from 'A+' with a stable outlook driven by the group's "robust financial performance", according to a statement released on Friday.
Fitch has upgraded the insurance company's long-term issuer default rating to 'AA-' from 'A+', as well as its insurer financial strength ratings on Prudential's core subsidiaries to 'AA' (very strong) from 'AA-' (very strong).
The rating's agency said the upgrade reflects the group's robust financial performance, driven by 'very strong' earnings metrics supported by continued high-quality growth.
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