Conseco Insurance (CNO) Message Board

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Non-Tech : Conseco Insurance (CNO)

CNO 39.59

-1.0%

3:59 PM EST

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To: Tunica Albuginea who wrote (3760)	11/7/2000 3:48:25 PM
From: AK2004	Read Replies (3) of 4155

Tunica where is our good ol' master Donjuan who was betting that no way no how cns would satisfy the new loan covenant Regards -Albert Conseco Receives Upgrade From A.M. Best Co. INDIANAPOLIS, Nov 7, 2000 (BUSINESS WIRE) -- Responding to news that A.M. Best has upgraded its financial strength rating to A- (Excellent) from B++ (Very Good), Conseco (NYSE:CNC) today said that it was pleased to have this affirming news. The upgrade was termed "very welcome, but not surprising" by Conseco Chairman & CEO, Gary Wendt. "We have great confidence in our turnaround plan, and it is gratifying to have it affirmed by such an important third party." The return of Conseco's rating to A- (Excellent) satisfies early a covenant in Conseco's recently amended bank debt agreements. That covenant required the company to achieve the A- rating by March 31, 2001. "This is good news for all of our insurance business units," said Wendt. "It will eliminate concerns in our independent distribution channel and should have a positive effect on margins." "We are still in a turnaround situation," said Wendt, "but this is one more big boulder removed from our path to a New Conseco."

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