OLDWICK, N.J.--(BUSINESS WIRE)--
A.M. Best Co. has assigned a debt rating of “bbb” to the recently issued $135.0 million 6.625% non-cumulative perpetual preferred stock of The Allstate Corporation (Allcorp) (Northbrook, IL) (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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- Security Upgrades & Downgrades
- The Allstate Corporation
Michael T. Venezia, 908-439-2200, ext. 5034
Senior Financial Analyst
Gary Davis, 908-439-2200, ext. 5665
Assistant Vice President
Rachelle Morrow, 908-439-2200, ext. 5378
Senior Manager, Public Relations
Jim Peavy, 908-439-2200, ext. 5644
Assistant Vice President, Public Relations