No not Duane Johnson, the other Rock!

Moody's is reviewing Prudential Financial's bond rating. It seems Pru The Rock has some $3 B in debt comng due this year and has less than that in cash. You will recall that these are long term obligations which have become short term or current liabilities, remember chapter 13 in the Intermed II class?

We study accounting so that we can understand such actions. Moody's says that Prudential is subject to the difficulties in the financial markets. 
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2 responses to “What, The Rock Downgraded!”

  1. John Avatar
    John

    This is going to become more common. GE is fighting to maintain its AAA rating. I don’t know if they can.

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  2. Dennis Elam Avatar
    Dennis Elam

    GE probably cannot stay AAA but of course Jack Welch will keep the new wife and townhouse and ……

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