S&P Skewers DOJ Suit But Hints At Settlement Talks

Law360, New York (February 12, 2013, 2:07 PM EST) -- Standard & Poor’s Financial Services LLC on Tuesday again criticized a U.S. Department of Justice suit over its flawed mortgage-backed securities ratings before the financial meltdown, but the firm’s top lawyer said a settlement with federal and state officials was still possible.

S&P's parent company, The McGraw-Hill Cos., issued a statement calling the landmark Feb. 4 suit “entirely without factual or legal merit” and vowing to fight the allegations. The DOJ alleges S&P gave toxic collateralized debt obligations inappropriately high ratings in 2007 as the U.S....
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