Best’s News & Research Service - March 06, 2014 03:24 PM (EST)
A.M. Best Assigns Debt Rating to The Allstate Corporation's Newly Issued Preferred Share Offering
Oldwick //BestWire// - A.M. Best has assigned a debt rating of "bbb" to the recently issued $747.5 million 6.625% 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.
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