We got this error while following the instructions to renew our SSL certificate on Windows Server 2012 IIS. The first part (intermediate certificate in mmc) went fine, but when trying to add the certificate in IIS we kept getting Access Denied error message.
Looked at many suggested solutions over the web but none resolved the problem. Then it turned out it's something much simpler.
Turned out we downloaded the certificate zip file from Godaddy too soon, right after we completed the renewal payment, so we ended downloading the OLD certificate before Godaddy managed to actually generate the new one. Since the old certificate is already installed in IIS we kept getting the very misleading error message in IIS.
So I am posting this in case it helps someone else. Just re-download the zip file from Godaddy and it may fix your problem. You could actually validate you downloaded the correct certificate by opening the .crt file and confirming it has to new expiry date (Valid fromt/to).
Also a message to Godaddy: Please fix this bug in your website. Don't allow users to download their SSL certificates too soon after completing a renewal so they don't have to spend hours trying to figure out why its not working.