There was a misapplication of our criteria to Allstate. We are lowering the short-term counterparty credit rating and CP rating on Allstate to 'A-2' from 'A-1'. Our long-term ratings on Allstate and its operating companies are not affected. On Nov. 16, 2016, S&P Global Ratings lowered its short-term counterparty credit rating and commercial paper (CP) ratings on Allstate Corp. to 'A-2' from 'A-1'. We are revising the short-term counterparty credit and CP ratings on Allstate Corp. due to a criteria misapplication of our Methodology For Linking Short-Term and Long-Term Ratings for Corporate, Insurance, and Sovereign Issuers (published May 7, 2013, on RatingsDirect). We had previously applied the group credit profile liquidity score of exceptional to the 'A-' long-term counterparty credit
