Conseco Inc.’s stock rose 18 percent Tuesday after the troubled life insurer got a much-needed boost to its investment-grade status from A.M. Best Co.
The upgrade allowed Conseco to satisfy the conditions of a refinancing agreement it signed with banks in September. The 14 Conseco units were required to achieve an “A-” rating by March 31, 2001 in order to refinance the $2.8 billion in debt.
Was this article valuable?
Here are more articles you may enjoy.
Surveys Show Concerns About Florida Market, But Consumers Are Warming Up 
Baldwin Group to Buy CAC Group for About $1B in Cash and Stock 
Dozens of State Attorneys General Urge Congress Not to Block AI Laws 
Litigation Finance Hits a Wall After Bets on Huge Gains Falter 
