Fitch affirms Allstate

Fitch Ratings said it affirmed Allstate Corp.'s long-term issuer default rating at A-, senior unsecured debt rating at BBB+, junior subordinated debt rating at BBB- and commercial paper and short-term issuer default rating at F1.

The outlook is stable.

The affirmation recognizes greater profitability as consolidated net income reached $854 million, up from a net loss of $1.7 billion in 2008, the agency said, adding that a significant improvement in realized investment losses to $583 million in 2009 from $5.1 billion in 2008 accounted for most of the change in the bottom line.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.