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February 13, 2013

S&P parent vows to beat suit over ratings

  • Executives said they expect the credit rating business to keep growing despite the scrutiny, thanks to demand for bonds and emerging markets like India.
    • By DANIEL WAGNER
    AP Business Writer

    WASHINGTON — Standard & Poor's is prepared to spend years beating back a federal lawsuit that accuses the company of giving falsely high ratings to mortgage investments that helped trigger the financial crisis, executives said Tuesday.

    “Rest assured, we will vigorously defend against these erroneous claims,” said Harold McGraw III, president and CEO of The McGraw-Hill Cos., which owns S&P, on a call with analysts.


     
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