PRU stock getting hammered after Fitch had some choice words for the insurer.
This is actually very scary news for the company as it now loses access to the Fed's Commercial Paper program. Says spokesman Bob DePhilippo: "We no longer have the ability to borrow funds from theCommercial Paper Funding Facility."
Fitch is likely looking at all the other insurers as well (HIG, ALL, etc. not looking too hot).
Prudential Fitch - Free Legal Forms
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