Lincoln Benefit Life Company -- Moody's downgrades Lincoln Benefit Life's IFS rating to Baa1 following announced sale; negative outlook

New York, July 19, 2013 -- Moody's Investors Service today downgraded the insurance financial strength (IFS) rating of Lincoln Benefit Life Company (Lincoln Benefit Life; LBL) to Baa1 from A1. The outlook on the rating is negative. Lincoln Benefit Life is a wholly-owned subsidiary of Allstate Life Insurance Co. (Allstate Life; A1 IFS/stable), a subsidiary of property-casualty insurer Allstate Insurance Co. (IFS Aa3/stable). The rating action follows the announcement that ultimate parent Allstate Corp. (A3 senior debt stable) has signed a definitive agreement to sell Lincoln Benefit Life to Resolution Life Holdings Inc. (Resolution Life, unrated) for approximately $600 million, in a transaction due to close in the second half of 2013, subject to regulatory approvals. The ratings of Allstate Life are unaffected.

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