- Language: English
- Published: November 2012
S&P Rates Allstate Financing I $350M Prefd Secs `A' Nov 96
- Published: November 1996
- Standard & Poors
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
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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Allstate Corp.,Allstate Insurance Co.,Allstate Life Insurance Co.,Allstate Financing I
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