ITT Corp. reported that it plans to sell its remaining 51.8% stake in Abbey Life Group, its British subsidiary, for about $400 million . . . C. H. Masland & Sons said its board of directors is opposed to Burlington Industries' unsolicited tender offer to purchase all of the outstanding shares of Masland common stock at $68 per share. Later in the day, Burlington said it planned to proceed with the offer . . . Chevron's senior debt was lowered to an AA- rating from AA by Standard & Poor's. About $5.06 billion of debt is affected.