Standard & Poor’s asked a federal judge on Monday to dismiss a U.S. Justice Department civil suit against the rating agency, arguing the government’s case is based on vague statements that cannot be used to prove fraud. In a $5 …
The U.S. government is seeking $5 billion in its civil lawsuit against Standard & Poor’s, accusing the ratings service of defrauding investors, in one of the most ambitious cases yet from the Justice Department over conduct tied to the financial …
U.S. insurance sectors are generally poised for stable credit trends in 2013, resulting from strong balance sheets, a stable business climate, and improved enterprise risk management, according to Standard & Poor’s Ratings Services. In a report titled, U.S. Insurers’ Sound …
Major credit rating agencies won a fresh legal victory on Monday when a federal appeals court rejected a lawsuit by Ohio pension funds that sought to recoup millions of dollars of losses on risky mortgage debt they said were based …
Standard & Poor’s Ratings Services said that the reinsurance sector’s strong capital and very strong earnings thus far in 2012 will allow it to withstand losses well outside the range of current insured loss estimates for Superstorm Sandy. In a …
Standard & Poor’s Ratings Services said it expects Hurricane Sandy to have only limited impact on the ratings on U.S. property/casualty insurers, global reinsurers, and certain catastrophe bonds. Although it anticipate that losses from Sandy will affect (re)insurers’ fourth-quarter earnings …
A leading North Carolina property insurer has seen its credit rating downgraded due to a significant decrease in its underwriting revenue and its potential for large losses due to hurricanes and other severe weather conditions. Standard & Poor’s rating agency …
Standard & Poor’s will change the way it assigns global ratings to insurers, in part to increase the consideration of country risk in the way a company is evaluated, the credit ratings agency said on Thursday. The changes will apply …
In response to Hartford Financial Services Group Inc.’s planned exit from some of its life insurance business, Standard & Poor’s Rating Services said it is downgrading the subsidiaries previously aggregated under Hartford Life, and assigning individual ratings and outlooks to …
Connecticut officials are encouraging other states to consider suing credit-rating agencies that gave high grades to risky mortgage-backed securities that plummeted in value when the housing market collapsed in 2007-2008. Connecticut Attorney General George Jepsen’s office on Wednesday briefed other …
