Moody’s downgrades Conseco outlook to ‘negative’

Moody’s Investors Service has slapped Conseco Inc. with a downgrade of its senior debt to “negative” from “stable.”

The change was sparked by “sub-par earnings” in the past year, according to Bloomberg. Moody’s also is concerned about a string of one-time charges the company has sustained.

The Carmel insurer lost $65 million in the second quarter largely due to an unprofitable long-term care business.

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