NY -- Standard&Poor's CreditWire 5/22/98 -- Standard&Poor's today assigned its single-'A'-plus rating to Allstate Corp.'s $250 million debentures due 2038 and to its $250 million debentures due 2018. These issuances represent drawdowns from Allstate's $1.5 billion universal shelf registration. With these issues, the shelf has been completely drawn down. The outlook is stable. Major Rating Factors: -- Allstate's profitability is solid with return on revenue equaling 10.7% in the first quarter of 1998 and has averaged 6.0% over the past five years. -- The company's performance is supported by equally strong results at both Allstate Insurance Co. and Allstate Life Insurance Co., its two primary operations. -- Allstate Insurance Co. (double-'A' financial strength rating), which ranks
