On Friday, Allstate Corp (NYSE:ALL)’s shares declined -0.54% to $67.61.
A.M. Best has assigned indicative ratings of “a-” to senior unsecured debt, “bbb+” to subordinated debt, “bbb” to junior subordinated debt and “bbb” to preferred stock of the recently filed shelf registration of The Allstate Corporation (Allcorp) (Northbrook, IL) [NYSE: ALL]. Additionally, A.M. Best has assigned the indicative ratings of “bbb” of the preferred securities of Allstate Financing VII, VIII, IX and X, which may be issued under Allcorp’s shelf registration statement. The outlook assigned to all ratings is stable. The new shelf registration replaces Allcorp’s previous shelf registration, which expired on April 30, 2015. Consequently, the indicative ratings for the previous shelf registration have been withdrawn.
The assigned ratings recognize Allstate Insurance Group’s (Allstate) solid risk-adjusted capitalization, favorable operating earnings trend and noteworthymarket presence. The ratings also are indicative of A.M. Best’s view of the group’s near-term earnings prospects when considering Allstate’s strong overall business profile as one of the largest personal lines writers in the United States. Financial leverage and interest coverage ratios at the holding company remain within A.M. Best’s guidelines for the current ratings.
The Allstate Corporation, through its auxiliaries, engages in the property-liability insurance and life insurance businesses in the United States and Canada. The company’s Allstate Protection segment sells private passenger auto and homeowners insurance products under the Allstate, Encompass, Esurance brand names. It also provides specialty auto products, counting motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products comprising renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; roadside assistance products; and commercial products for small business owners, in addition to insurance agency services. In addition, this segment sells retirement and investment products, counting mutual funds, fixed and variable annuities, disability insurance, and long-term care insurance products. Further, it sells its products through contact centers and Internet.
General Growth Properties Inc (NYSE:GGP)’s shares dropped -1.53% to $26.47.
General Growth Properties, Inc. (GGP) will report financial and operational results for the second quarter 2015 after the close of business on Monday, August 3, 2015, and host a conference call for investors and other interested parties at 8:00 a.m. Central (9:00 a.m. Eastern) on Tuesday, August 4, 2015. The information to be talk about during the call will be contained in the earnings release and supplemental financial package which will be accessible on the Investors section of the company’s website at www.ggp.com.
General Growth Properties, Inc is an equity real estate investment trust. The firm invests in the real estate markets of the United States. It engages in owning, managing, leasing, and redeveloping high-quality regional malls. General Growth Properties, Inc is based in Chicago, Illinois.
At the end of Friday’s trade, Masco Corp (NYSE:MAS)‘s shares dipped -1.76% to $22.86.
Masco Corporation (MAS) declared that its Board of Directors declared a quarterly dividend of $.09 per common share, payable on August 10, 2015, to shareholders of record on July 13, 2015.
Headquartered in Taylor, Michigan, Masco Corporation is one of the world’s leading manufacturers of home improvement and building products, in addition to a leading provider of services that comprise the installation of insulation and other building products.
Masco Corporation manufactures, distributes, and installs home improvement and building products worldwide. The company’s Cabinets and Related Products segment provides cabinetry for kitchen, bath, storage, home office, and home entertainment applications; and kitchen countertops, and integrated bathroom vanity and countertop solutions. Its Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bathing units, and toilets; acrylic tub and shower systems, bath and shower enclosure units, shower trays, and laundry tubs, in addition to spas; and brass and copper plumbing system components, and other plumbing specialties.
Rex Energy Corporation (NASDAQ:REXX), ended its Friday’s trading session with -0.3% loss, and closed at $3.39.
Rex Energy Corporation (REXX) declared that it has designated Robert W. Ovitz as Chief Operating Officer of the company. Mr. Ovitz, who most served as the Senior Vice President, Operations for the company, assumes the COO role from Patrick M. McKinney, who has served as COO since May 2010 and both President and COO since October 2011. Mr. McKinney will leave the company in August to pursue an opportunity in the investment banking industry. +
Effective right away, Ovitz will assume responsibility for company-wide operations, with direct oversight of Appalachian and Illinois operations, reservoir engineering, and exploration and geology. He will be responsible for the alignment, precedingitization and administration of operational capital to execute the company’s exploration, drilling and production strategies, and for ensuring operational excellence across the company.
Rex Energy Corporation operates as an independent oil, natural gas liquid, and natural gas company in the Appalachian and Illinois basins in the United States. The company focuses on the Marcellus Shale, Utica Shale, and Burkett Shale drilling and exploration activities in the Appalachian Basin, in addition to on developmental oil drilling and the implementation of improved oil recovery on its properties in the Illinois Basins.
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