Too Little Coverage: How General American got fancy in investing, lost its independence. Funding agreements proved costly customers all wanted out at once. Fateful ratings downgrade.

Number 20391
Subject Financial Investigations
Source Wall Street Journal (New York)
State NY
Year 1999
Publication Date September 3, 1999
Summary According to the article, "...Moody's Investors Service lowered by one notch its ratings on General American Life Insurance Co.'s debt and financial strength . ... The downgrading set off a chain reaction involving some unusual investments in which the company was participating. Within days,the fast-moving events had cost the 66-year-old company its independence."
Category General
Pages 2
Keywords General American;finances;money;problems;financial strength;downgrading;General American Life Insurance Company;Moody Investors Service
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