(Editor's note: In the original version of this article, which was published yesterday, the preliminary subordinated debt rating was incorrect. The corrected version appears below.) NEW YORK (Standard & Poor's) March 17, 2004--On March 16, 2004, Standard & Poor's Ratings Services said that it assigned its preliminary 'BB+' senior debt, 'BB-' subordinated debt, and 'B+' preferred stock ratings to Iowa-based American Equity Investment Life Holding Co.'s (AEL) $250 million shelf registration, which was filed on March 16, 2004. The company expects to use potential drawdowns on the shelf for general corporate purposes. "The ratings are based on AEL's improved balance sheet, stronger earnings, strong management team, low credit risk in its investment portfolio, and strong consolidated capital adequacy and liquidity,"
