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Article: A.M. Best Removes From Under Review and Affirms Ratings of Conseco, Inc. and Its Subsidiaries; Outlook Negative.
- Article from:
- Business Wire
- Article date:
- October 16, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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OLDWICK, N.J. -- A.M. Best Co. has removed from under review with negative implications and affirmed the financial strength rating (FSR) of B (Fair) and issuer credit ratings (ICR) of "bb" of the life/health insurance subsidiaries of Conseco, Inc. (Conseco) (Carmel, IN) [NYSE: CNO]. Concurrently, A.M. Best has removed from under review with negative implications and affirmed the ICR and senior debt rating of "b-" of Conseco. The outlook assigned to all ratings is negative. (See below for a detailed listing of the companies and ratings.)
These rating actions follow Conseco's recent announcement of its recapitalization plan, which includes the issuance of common ...