Path: bloom-picayune.mit.edu!snorkelwacker.mit.edu!americast.com!americast.com!americast-post Newsgroups: americast.latimes.money From: americast-post@AmeriCast.Com Organization: American Cybercasting Approved: americast-post@AmeriCast.com Subject: INSURANCE Date: Thu, 19 Nov 92 07:09:49 EST Message-ID: HEADLINE: INSURANCE Publication Date: Wednesday November 18, 1992 BYLINE: Prudential Insurance's Debt Rating Lowered: Standard & Poor's lowered its ratings on $3.15 billion worth of Prudential Insurance Co. of America bonds because of the insurer's losses from Hurricane Andrew. The downgrade, to AA+ from the top AAA rating, signifies that higher risk is associated with owning Prudential debt. That means that the Newark, N.J., company may be forced to offer higher interest rates to attract investors. Prudential expects more than $1 billion in claims from the hurricane and, because of that, forecasts a 1992 loss of $500 million. This article is copyright 1992 The Los Angeles Times Home Edition. Redistribution to other sites is not permitted except by arrangement with American Cybercasting Corporation. For more information, send-email to usa@AmeriCast.COM