NU Online News Service, March 22, 3:25 p.m. – Conseco Inc., Carmel, Ind., says it has succeeded at negotiating modifications to an agreement with its bankers.
The changes include relaxation of financial coventants; reduction of liquidity requirements to $50 million, from $100 million; and permission to exclude goodwill write-offs from solvency calculations.
The bankers have also agreed to change the terms for handling of proceeds from asset sales, Conseco says.