Allstate Corp.'s $550M, Five-Year, 5.375% Notes Rated 'A+' Nov 01

Standard & Poors, November 2001

Abstract
NEW YORK (Standard & Poor's) Nov. 28, 2001--Standard & Poor's today assigned its single-'A'-plus senior debt rating to Allstate Corp.'s (Allstate) $550 million, five-year notes issuance, which was sold at a 5.375% coupon rate. Allstate intends to use the net proceeds from this offering to fund the redemption of approximately $550 million of 7.95% junior subordinated deferrable interest debentures, Series A on its balance sheet. In turn, all 22 million shares of the 7.95% cumulative quarterly income preferred securities, Series A, issued by Allstate Financing I in 1996, will be redeemed on Dec. 7, 2001. After the transaction, Allstate's financial leverage (i.e., debt plus preferred as a percent of capitalization) is expected to remain unchanged at a level below 20%....

Companies mentioned in this report are: Allstate Corp.,Allstate Insurance Co.,Allstate Life Insurance Co.,Allstate Financing I
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.

Allstate Corp.,Allstate Insurance Co.,Allstate Life Insurance Co.,Allstate Financing I

Customers who bought this item also bought

• China Aged Care Service Industry Report, 2011-2012
• China Aged Care Service Industry Report, 2011-2012
• Israel Life Sciences Market Analysis
• Special Service & Homeland Security Vehicle Manufacturing in North America
• eLEARNING - Global Strategic Business Report
• The Polish Defense Industry - Market Opportunities and Entry Strategies, Analyses and Forecasts to 2017
• Unmanned Aircraft Market Shares, Strategies, and Forecasts, Worldwide, 2011 to 2017
• Homeland Security and Emergency Management Market, 2013–2018
• Commercial Unmanned Aerial Systems (UAS): Market Shares, Strategies, and Forecasts, Worldwide, 2012 to 2018
• China Education and Training Industry Report, 2011-2012