TEXT-S&P rates Allstate junior subordinated debt 'BBB'
Jan 3 - Standard & Poor's Ratings Services said today that it assigned its 'BBB' debt rating to Allstate Corp.'s (NYSE:ALL) junior subordinated debentures up to $1 billion maturing in 2053. We expect the debentures to qualify for intermediate content treatment under our criteria for hybrid securities, based on a review of preliminary documentation. The company intends to use the net proceeds from this issue for general corporate reasons including share repurchases. Adjusted debt and financial
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