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.
Fingerprints, Background Checks for Florida Insurance Execs, Directors, Stockholders? 
AIG Underwriting Income Up 48% in Q4 on North America Commercial 
Florida Insurance Costs 14.5% Lower Than Without Reforms, Report Finds 
AIG’s Zaffino: Outcomes From AI Use Went From ‘Aspirational’ to ‘Beyond Expectations’ 
