Allstate, the second-largest U.S. personal lines insurance company, continues to enjoy a very strong competitive position and well-recognized franchise. Strong operating performance, very strong liquidity, and excess holding company capital partially mitigate a deficiency in capital adequacy. We are affirming our ratings on Allstate Corp. and its property liability companies. We are lowering our ratings on the life insurance companies to 'A+' from 'AA-' to reflect our reassessment of their strategic importance to the group. We are revising our outlook on Allstate Corp. and its property liability companies to stable from negative, and the outlook on the life insurance companies is stable. On Nov. 17, 2010, Standard&Poor's Ratings Services revised its outlook on Allstate Corp. and its core
