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Allstate Financial Global Funding LLC's $400M Notes and $25M Securities Assigned 'AA+' Ratings Sep 00
Standard & Poors, Sep 2000
Abstract
NEW YORK (Standard & Poor's CreditWire) Sept. 26, 2000--Standard & Poor's today assigned its double-'A'-plus rating to Allstate Financial Global Funding LLC's (AFGF) $400 million Series 01 notes and $25 million auction market equity securities (AMES). The ratings on the notes and the AMES are based on a funding agreement issued by Allstate Life Insurance Co.(ALIC) and reflect the financial strength of ALIC (double-'A'-plus counterparty credit rating). The notes constitute the first issuance in the U.S. of an obligation secured by an ALIC funding agreement. ALIC's current EMTN program does not allow for notes to be sold in the U.S. or to be purchased by U.S. investors. The issuance of the notes represents AFGF's entry into the global note structured...
Companies mentioned in this report are: Allstate Financial Global Funding LLC,Allstate Insurance Co.,Allstate Life Insurance Co.,Allstate Corp.,Allstate Life Insurance Group
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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