AM Best Assigns Issue Credit Rating to The Allstate Corporation’s Newly Issued Preferred Stock Offering

OLDWICK, N.J.--()--AM Best has assigned a Long-Term Issue Credit Rating of “bbb+” to the $1.15 billion 5.10% non-cumulative perpetual preferred stock recently issued by The Allstate Corporation (headquartered in Northbrook, IL) [NYSE: ALL]. The outlook assigned to the Credit Rating (rating) is stable. The existing ratings of The Allstate Corporation and its subsidiaries remain unchanged.

The company intends to use the net proceeds for general corporate purposes, including the potential redemption of existing series of preferred shares.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

AM Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.

Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Edin Imsirovic
Senior Financial Analyst
+1 908 439 2200, ext. 5740
edin.imsirovic@ambest.com

Greg Williams
Senior Director
+1 908 439 2200, ext. 5815
greg.williams@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Contacts

Edin Imsirovic
Senior Financial Analyst
+1 908 439 2200, ext. 5740
edin.imsirovic@ambest.com

Greg Williams
Senior Director
+1 908 439 2200, ext. 5815
greg.williams@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com