On May 28, 2003, Standard & Poor's Ratings Services assigned its 'A+' senior debt rating to Allstate Corp.'s (Allstate) $400 million, 30-year bond issuance. Allstate intends to use the net proceeds from this offering to fund the redemption of $300 million of senior notes that are scheduled to mature on June 16, 2003, as well as for general corporate purposes. After the redemption, Standard & Poor's expects Allstate's financial leverage (debt plus preferred as a percentage of capitalization) to remain below 20%, while fixed-charge coverage is expected to be 5.5x-6.0x. Allstate is a diversified financial services organization with a strong franchise in the U.S. personal auto, homeowners, life, and asset-accumulation businesses. Complementing each of these businesses is a conservative capital
