NEW YORK (Standard&Poor's) June 4, 2013--Standard&Poor's Ratings Services said today that it assigned its 'A-' senior debt ratings to Allstate Corp.'s (NYSE:ALL) proposed $750 million to $1 billion of 10-year and 30-year senior debt issuances. We expect Allstate to use the proceeds from these offerings to fund its concurrent tender offers of existing debt and hybrid debt, to prefund $950 million of debt due in 2014, and for general corporate purposes. The group's financial flexibility is strong and neutral to the rating. We expect Allstate to produce moderate financial leverage of less than 35% and strong fixed-charge coverage of more than 8x (assuming normal catastrophe losses) on average from 2013 through 2015. RELATED CRITERIA AND RESEARCH
