A.M. Best has assigned a debt rating of “bbb” to the recently issued $250.0 million 6.25% non-cumulative perpetual preferred stock of The Allstate Corporation (Northbrook, IL) [NYSE: ALL]. The outlook assigned to the rating is stable.
The proceeds from this offering are expected to be used for general corporate purposes.
The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.
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Contacts:
Michael T. Venezia
Senior
Financial Analyst
(908) 439-2200, ext. 5034
michael.venezia@ambest.com
or
Gary
Davis
Assistant Vice President
(908) 439-2200,
ext. 5665
gary.davis@ambest.com
or
Jim
Peavy
Assistant Vice President, Public Relations
(908)
439-2200, ext. 5644
james.peavy@ambest.com