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Press release from Business Wire

A.M. Best Assigns Debt Ratings to The Allstate Corporation's Newly Issued Debt Offerings

Wednesday, June 26, 2013

A.M. Best Assigns Debt Ratings to The Allstate Corporation's Newly Issued Debt Offerings

13:30 EDT Wednesday, June 26, 2013

OLDWICK, N.J. (Business Wire) -- A.M. Best Co. has assigned debt ratings of “a-” to the recently issued $500 million 3.15% fixed senior unsecured notes due 2023 and $500 million 4.5% fixed senior unsecured notes due 2043 of The Allstate Corporation (Allcorp) (Northbrook, IL) [NYSE: ALL]. Concurrently, A.M. Best has assigned a debt rating of “bbb” to the recently issued $287.5 million non-cumulative perpetual preferred stock. The outlook assigned to all ratings is stable.

The proceeds from the offerings are expected to be used to partially fund retirement of approximately $3.0 billion of outstanding debt in connection with Allcorp's recently announced capital restructuring plans and for general corporate purposes. The retirement of $3.0 billion includes the $1.8 billion principal amount of bonds tendered, the 2013 debt maturity of $250 million repaid in June and the $950 million pre-funded 2014 debt maturities.

The methodology used in determining these ratings is Best's Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best's rating process and contains the different rating criteria employed in the rating process. Best's Credit Rating Methodology can be found at

A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit

Copyright © 2013 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

A.M. Best
Michael T. Venezia
Senior Financial Analyst
908-439-2200, ext. 5034
Gary Davis
Assistant Vice President
908-439-2200, ext. 5665
Rachelle Morrow
Senior Manager, Public Relations
908-439-2200, ext. 5378
Jim Peavy
Assistant Vice President, Public Relations
908-439-2200, ext. 5644

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