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.
Zurich CEO Says Staff Let Go as Regulator Finma Imposes Partial Sales Ban 
Company at Center of Cyclospora Outbreak Complained to White House, Source Says 
Record-Low Danube Water Levels Leave Boats Beached, Reveal Decades-Old Shipwrecks 
CBIZ Brokerage to Be Spun Off, Backed by Private Equity, After $5B Grant Thornton Deal 
