INSURANCE

Prudential’s Credit Rating Cut by S&P;: The action was taken amid concerns that the biggest U.S. insurer will at best break even in 1994 and may lose as much as several hundred million dollars, Standard & Poor’s Corp. said. S&P; lowered its rating on the Newark, N.J.-based firm’s ability to pay claims to AA- from AA and said it may cut the ratings even more. About $4 billion of debt was affected by the downgrade, S&P; said. Prudential Insurance Co. of America’s “1994 results will be considerably worse than anticipated,” S&P; said.