Conseco has emerged from bankruptcy with a positive outlook, according to two rating agencies. Both A.M. Best and Standard & Poor’s have assigned the company B-level ratings and a positive outlook.

The troubled insurer has had to pare down its lines of business, shutting down a number of product lines in order to rationalize its businesses. The company starts with a fresh balance sheet, and its official emergence from bankruptcy has eliminated uncertainty about its ability to successfully restructure, A.M. Best said in a release. Even so, there remain some risk and questions about the longer-term reorganization plan.

Lower risk-based capital levels, at 173% on June 30, will improve with the sale of the company’s GM Building, S&P said. If Conseco sells the property for $1.4 billion, as reported in the press, operating capital could increase by $380 million.

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