NU Online News Service, July 2, 2003, 12:08 p.m. EDT – Moody’s Investors Service, New York, says it is lowering the insurance financial strength ratings of the insurance subsidiaries of Conseco Inc., Carmel, Ind., to B2, from B3.
Moody’s is leaving Conseco Inc.’s senior debt rating at Ca.
“The downgrade primarily reflects the deterioration of statutory capital levels at many of Conseco’s insurance subsidiaries,” Moody’s says in a discussion of the rating changes.