Upgrade Good News for Conseco Stock
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.
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