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Allstate Life Insurance Co. and Related Ratings Affirmed; Outlook Negative Oct 02
Standard & Poors, Oct 2002
Abstract
NEW YORK (Standard & Poor's) Oct. 16, 2002--Standard & Poor's Ratings Services said today that it affirmed its double-'A'-plus counterparty credit and financial strength ratings on Allstate Life Insurance Co. and related entities (Allstate Financial). Standard & Poor's also said that the outlook on these companies is negative. 'These rating actions reflect the strength and diversification of Allstate Financial's product and distribution capabilities as well as its strong franchise among U.S. consumers and conservative capitalization,' noted Standard & Poor's credit analyst Matthew A. Coyle. Standard & Poor's expects that recent economic and market activity will challenge Allstate Financial's ability to show positive sales growth for the remainder of 2002 and 2003. In particular, sales of individual variable annuities are expected...
Companies mentioned in this report are: Allstate Life Insurance Co.,American Heritage Life Insurance Co.
Action: Affirmed
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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