AM Best Assigns Issue Credit Rating to The Allstate Corporation’s New Senior Unsecured Notes

Rhea-AI Summary

AM Best has assigned a Long-Term Issue Credit Rating of “a-” (Excellent) to The Allstate 's $500 million, 5.05% senior unsecured notes due 2029. The rating outlook is stable. Existing ratings of Allstate and its insurance subsidiaries remain unchanged. AM Best, a global credit rating agency, specializes in the insurance industry and operates in over 100 countries. Further details are available on AM Best’s Recent Rating Activity web page.

Positive

• Assigned a Long-Term Issue Credit Rating of 'a-' (Excellent) to $500 million, 5.05% senior unsecured notes due 2029.
• The rating outlook is stable.

Negative

• None.

OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has assigned a Long-Term Issue Credit Rating of “a-” (Excellent) to the $500 million, 5.05% senior unsecured notes, due 2029, of The Allstate Corporation (Allcorp) (Northbrook, IL) [NYSE: ALL]. The outlook assigned to this Credit Rating (rating) is stable. The existing ratings of Allcorp and its insurance subsidiaries remain unchanged.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240624112567/en/

Elizabeth Blamble

Senior Financial Analyst

+1 908 882 1661

elizabeth.blamble@ambest.com

Christopher Sharkey

Associate Director, Public Relations

+1 908 882 2310

christopher.sharkey@ambest.com

Edin Imsirovic

Director

+1 908 882 1903

edin.imsirovic@ambest.com

Al Slavin

Senior Public Relations Specialist

+1 908 882 2318

al.slavin@ambest.com

Source: AM Best

FAQ

What rating did AM Best assign to Allstate 's new senior unsecured notes?

AM Best assigned a Long-Term Issue Credit Rating of 'a-' (Excellent) to The Allstate 's $500 million, 5.05% senior unsecured notes due 2029.

What is the outlook for Allstate ’s new credit rating?

The outlook assigned to the credit rating is stable.

Did AM Best change the existing ratings of Allstate and its insurance subsidiaries?

No, the existing ratings of Allstate and its insurance subsidiaries remain unchanged.

Where can I find further details regarding Allstate's new credit rating?

Further details are available on AM Best’s Recent Rating Activity web page.