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Non-Tech : Conseco Insurance (CNO)

CNO 43.91

+1.4%

Jan 8 3:59 PM EST

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To: DAVID BROWN who started this subject	9/25/2000 4:56:21 PM
From: Tunica Albuginea	Read Replies (1) of 4155

<font color=red>BLOOMBERG:Conseco's Wendt:Expects Debt Rating Upgrade`Shortly' quote.bloomberg.com Conseco's Wendt Says He Expects Debt Rating Upgrade `Shortly' By Dan Lonkevich New York, Sept. 25 (Bloomberg) -- Conseco Inc.'s chairman Gary Wendt said the insurer ought to have its investment-grade credit rating restored within six months following a series of asset sales and a new pact with banks to extend debt payments. ``We'll get it back well before'' March 2001, said Wendt in an interview following a meeting with analysts and investors in New York. A higher rating will cut its borrowing costs. The meetings followed an agreement announced last week with a group of 25 banks led by Chase Manhattan Bank and Bank of America that allow it more time to repay more than $2 billion. Today, A.M. Best Co., a rating agency, indicated an upgrade could come, raising its outlook on the insurer to ``positive'' from ``developing.'' It rates Conseco a ``B++''. ``We don't expect them to move quickly but we're not borrowing much money right now,'' said Wendt. ``We hope to work with A.M. Best to show them the quality of what we've done and we expect to get the (investment-grade) rating back shortly.'' Conseco shares slid 81.25 cents to $8.6875.

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