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A.M. Best has assigned Long-Term Issue Credit Ratings of "a-" to the $550 million 3.28% 10-year senior unsecured notes due December 2026 and the $700 million 4.2% 30-year senior unsecured notes due December 2046 of The Allstate Corporation (Allcorp) (headquartered in Northbrook, IL) [NYSE:ALL]. The outlook assigned to these Credit Ratings (ratings) is stable. Concurrently, A.M. Best has commented that the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "aa-" of the members of Allstate Insurance Group (Allstate) remain unchanged following Allstate's recent announcement that it has entered into a definitive agreement to acquire SquareTrade, a privately held, consumer protection plan provider that distributes through many of America's major point of sale and online retailers. The Long-Term ICR of "a-" of Allcorp is also unchanged by this announcement. Each of these ratings has a stable outlook. Allcorp will purchase SquareTrade for approximately $1.4 billion from a group of shareholders, including Bain Capital Private Equity and Bain Capital Ventures, in a transaction expected to close in January 2017. Allstate plans to fund the acquisition through cash and proceeds from the issuance of the $1.25 billion of senior debt as indicated above. Following the completion of the acquisition, Allcorp's financial leverage is expected to remain in-line with A.M. Best's expectations for its current rating level, based on an initial review of the transaction. The existing executive management team at SquareTrade is expected to remain in place, and the company will remain a separate entity in Allstate. The strategic benefits to Allstate include the capability to meet policyholders' growing coverage needs in segments outside the normal insurance spaces, as well as cross selling opportunities across multiple distribution channels for both companies. The closing is expected to take place in January 2017, and is subject to customary closing conditions. A.M. Best will continue to monitor the progress of the transaction and evaluate any developments and implications for potential impact on the ratings.