OLDWICK, N.J., May 19, 2023--(BUSINESS WIRE)--AM Best has assigned a Long-Term Issue Credit Rating of "bbb+" (Good) to the $600 million 7.375% non-cumulative perpetual preferred stock recently issued by The Allstate Corporation (headquartered in Northbrook, IL) [NYSE: ALL]. The outlook assigned to the Credit Rating (rating) is stable. The company intends to use the net proceeds for general corporate purposes. The existing ratings of The Allstate Corporation and its subsidiaries remain unchanged.
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