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CLARIFICATION: S&P Evaluation Of Life Settlement Firm

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NU Online News Service, Oct. 8, 2004, 5:29 p.m. EDT

Standard & Poor’s Ratings Services, New York, has pointed out that the headline of an Oct. 4, 2004, article about its assessment of a life settlement firm was misleading.[@@]

As stated in the article, S&P gave a major life settlement company, Coventry First L.L.C., Fort Washington, Pa., a strong ranking with a stable outlook.

The original headline implied that S&P had given the company a high rating.

The S&P ranking system is different from the S&P rating system because the ranking system does not include a credit analysis, according to an S&P representative.

S&P awarded Coventry First a high ranking because the company has experienced executives and effective policies and internal controls, S&P says.


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