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.