On February 2, Standard & Poor's Ratings Services settled claims brought by the Department of Justice, 19 states and the District of Columbia related to credit ratings it issued and maintained for RMBS and CDOs before the financial crisis. As part of the settlement, it agreed to pay a total of $1.375 billion, with $687.5 million paid to the Department of Justice and $687.5 million to the states and District of Columbia. Settlement Agreement.
Also on February 2, S&P settled similar claims brought by the California Public Employees' Retirement System (CalPERS). The terms of that settlement agreement have not been made public.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.