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.
US Offers $20 Billion Reinsurance Plan to Spur Gulf Oil Flow 
Westchester Close to Settling on Hurricane Sally Condo Claim That Topped $230M 
Death and Destruction at Orlando I-4 Project But Punitive Damages Not Allowed 
Marine Insurers Cancel War Risk Cover as Iran Conflict Escalates 
