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Allstate Corp. Jan 06
Standard & Poors, Jan 2006
Abstract
Strong debt leverage, interest, and fixed-charge coverage. Diversified earnings stream and strong cash flows from operating companies. Excess capital at Kennett Capital, a wholly owned investment company. Exposure to potential large catastrophic events from its property/casualty operations. Recurring adverse asbestos reserve development. The counterparty credit rating on Allstate Corp. (Allstate) is based on the company's strong debt leverage, interest, and fixed-charge coverage; its diversified earnings stream that results from its core operating companies; strong cash flows from its operating companies; and the availability of excess capital at Kennett Capital. Partially offsetting these positive factors are the company's exposure to potential large catastrophic events from its property/casualty operations and recurring adverse asbestos reserve developments. Debt leverage (as measured by debt to...
Companies mentioned in this report are: Allstate Corp.,Allstate Insurance Co.,Allstate Life Insurance Co.,Lincoln Benefit Life Co.,Surety Life Insurance Co.,Allstate Indemnity Co.,Allstate Property & Casualty Insurance Co.,Allstate Texas Lloyd's,Allstate County Mutual Insurance Co.,Northbrook Indemnity Co.,Allstate Life Insurance Co. of New York,American Heritage Life Insurance Co.,Deerbrook Insurance Co.,Allstate Insurance Co. of Canada (Unsolicited Ratings),Allstate Life Global Funding Trusts
Action: Review
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: Full Analysis
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