Salomon Cuts Conseco Rating

Analyst Colin Devine cites various credit challenges

Salomon Smith Barney downgraded insurance company Conseco (CNC ) to sell from underperform citing various credit challenges. Analyst Colin Devine says Conseco continues to face a myriad of credit quality challenges relating to its sub-prime consumer finance unit, ongoing weak operating ratios at its life insurance operations, and self-acknowledged cash flow deficiencies at its holding company parent.

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