First Executive’s Ratings Lowered: Standard & Poor’s...
From Times Staff and Wire Reports
First Executive’s Ratings Lowered: Standard & Poor’s lowered certain financial ratings for First Executive Corp. and its Executive Life Insurance subsidiary. The rating on First Executive’s preferred stock was decreased to B-plus from BB-plus and the rating on its preference stock to B from BB. S&P; also cut the rating on the subsidiary’s ability to pay claims to BBB from A.
