Troubled Conseco, the US insurer struggling to pay off more than $6bn (£4.2bn) of debt, has asked for more time to pay it.
It has reportedly offered creditors a deal - better terms in case of bankruptcy in return for a longer length of time to pay off $2.5bn (£1.8bn) of the debt.
The offer is open until 12 April.
The company has had problems with debt since buying Green Tree Financial in 1998.
Moody's put Conseco's senior debt on review for potential downgrade following the move. It has also indicated it may downgrade its credit rating.
