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Published on 1/7/2013 in the Prospect News Bank Loan Daily, Prospect News Investment Grade Daily and Prospect News Preferred Stock Daily.

S&P corrects Allstate debt

Standard & Poor's said it misstated the debt type in its Jan. 3 rating of Allstate Corp.

The BBB rating should have been assigned to the company's $1 billion subordinated debentures due 2053.

In the initial release, the debt was referred to as junior subordinated debentures.


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