-

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

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Long-Term Issue Credit Rating of “bbb+” (Good) to the $600 million 7.375% 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 company intends to use the net proceeds for general corporate purposes. The existing ratings of The Allstate Corporation and its subsidiaries remain unchanged.

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 Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Kate Steffanelli
Associate Director
+1 908 439 2200, ext. 5063
kate.steffanelli@ambest.com

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

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

Al Slavin
Senior Public Relations Specialist
+1 908 439 2200, ext. 5098
al.slavin@ambest.com

AM Best

NYSE:ALL

Release Versions

Contacts

Kate Steffanelli
Associate Director
+1 908 439 2200, ext. 5063
kate.steffanelli@ambest.com

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

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

Al Slavin
Senior Public Relations Specialist
+1 908 439 2200, ext. 5098
al.slavin@ambest.com

More News From AM Best

AM Best Revises Outlooks to Negative for Subsidiaries of Group 1001 Insurance Holdings, LLC

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has revised the outlooks to negative from positive and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) of the following subsidiaries of Group 1001 Insurance Holdings, LLC: Delaware Life Insurance Company and Clear Spring Life and Annuity Company (both domiciled in Wilmington, DE). These companies are referred to as the Group 1001 Life & Annuity Group. In additio...

AM Best Revises Outlooks to Negative for Nissan Global Reinsurance. Ltd.

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Nissan Global Reinsurance, Ltd. (NGRe) (Hamilton, Bermuda). The Credit Ratings (ratings) reflect NGRe’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. The...

AM Best Affirms Credit Ratings of Trisura Group Ltd. Subsidiaries

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a-” (Excellent) of the operating subsidiaries of Trisura Group Ltd. (TGL) [TSX: TSU] (Toronto, Ontario, Canada). The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of all companies and their ratings.) The ratings reflect TGL’s overall balance sheet strength, which AM Best assesses as very s...
Back to Newsroom