Strong debt leverage, interest, and fixed charge coverage ratios Diversified earnings stream and strong cash flows from operating companies Excess capital at Kennett Capital Exposure to potential large catastrophic events from P/C operations Recurring adverse asbestos reserve development The counterparty credit rating on Allstate Corp. is based on the company's strong debt leverage, interest, and fixed charge coverage ratios, its diversified earnings stream from its core operating companies, strong cash flows from its operating companies, and the availability of excess capital at Kennett Capital (Kennett). Partially offsetting these positive factors are the company's exposure to potential large catastrophic events from its property/casualty (P/C) operations and recurring adverse asbestos reserve developments. Debt leverage (as measured by debt to total capital) was
