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S&P Rates Allstate Financing I $350M Prefd Secs `A' Nov 96 Product Image

S&P Rates Allstate Financing I $350M Prefd Secs `A' Nov 96

  • Published: November 1996
  • Standard & Poors

Abstract
NY -- Standard & Poor's CreditWire 11/15/96 -- Standard & Poor's today has assigned its single-`A' rating to Allstate Financing I's (ALLFI) $350 million cumulative quarterly income preferred securities. The outlook is stable. This issue represents a drawdown from Allstate Corp.'s (ALL) $1.5 billion shelf registration. The rating on ALLFI is based on the full and unconditional guarantees of ALL. Allstate's rating reflects the solid financial strength of its primary operating unit, Allstate Insurance Company (AIC) and, to a lesser extent, Allstate Life Insurance Co (ALIC). ALL's financial leverage will increase only modestly with this issuance. On a pro forma basis, total debt-to-capital should reach 14.6% at the end of the third quarter of 1996, up from 8.8% at year...

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

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

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