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Allstate Life Funding's $250 Million Series 01 Notes Rated 'AA+' Jul 99
Standard & Poors, July 1999
Abstract
NEW YORK (Standard & Poor's CreditWire) July 26, 1999--Standard & Poor's today assigned its double-'A'-plus rating to Allstate Life Funding, LLC's (ALF) $250 million series 01 notes. The series 01 notes are the first of a program under which ALF may issue up to $2 billion in notes secured by funding agreements provided by Allstate Life Insurance Co. (ALIC). The issuance of the series 01 notes represents ALF's first entry into the European-structured guaranteed investment contract (GIC) market. The rating reflects the financial strength of ALIC (double-'A'-plus/Stable/'A-1'-plus), which provides the funding agreements underlying the notes. Allstate Life Insurance Co. is a wholly owned subsidiary of Allstate Insurance Co.(double-'A'/Positive/--). Domiciled in Northbrook, Ill., the Allstate Life Group (ALIG) is comprised of...
Companies mentioned in this report are: Allstate Life Funding LLC,Allstate Insurance Co.,Allstate Life Insurance Co.
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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