Fitch reiterates Prudential´s long-term debt rating

A further one-notch downgrade of its rating on the UK´s sovereign long-term debt would not automatically trigger a cut to Prudential´s own rating, Fitch Ratings said in a report in which it also reaffirmed the insurer´s current standing.

Analysts at Fitch reiterated their rating on Prudential´s long-term debt at A+ espite their 27 June decision to lower that on the United Kingdom to AA with a 'negative outlook'.

"Prudential's strong credit profile and global diversification mean a further one-notch downgrade of the UK's ratings would not automatically trigger a downgrade of the group's 'AA' IFS ratings," Fitch said.

"Prudential's operations are well diversified globally, with significant operations in Asia and the US in addition to its UK business. In 2015, 54% of its assets backing insurance operations were related to business written in Asia and the US, and 76% of the group's long-term operating profit was generated outside the UK."