OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned indicative Long-Term Issue Credit Ratings of “a-” (Excellent) to senior unsecured issues, “bbb+” (Good) to subordinated issues, and “bbb” (Good) to both junior subordinated and preferred stock to the recently filed shelf registration of The Allstate Corporation (Allcorp) (Northbrook, IL) [NYSE: ALL]. The outlook assigned to these Credit Ratings (ratings) is stable. Concurrently, AM Best has withdrawn the ratings on the previous shelf registration, which expired. The existing ratings of Allcorp and its insurance subsidiaries are unchanged.
Allcorp’s adjusted financial leverage and earnings before interest, preferred dividends, and taxes coverage has been within AM Best’s expectations.
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