Standard & Poor's, a Subsidiary of McGraw Hill, Says DOJ Civil Lawsuit Is Unjustified And Without Legal Merit
- Strengthen independence from issuer influence: We further strengthened existing analytical independence, enhanced analyst training on issuer interactions and instituted a rotation program for analysts assigned to rate bonds from specific issuers of debt.
- Improve our methodologies: We revised the way we rate securities affected by the financial crisis and introduced more stringent criteria that, among other changes, set higher requirements to achieve AAA ratings.
- Monitor global credit risks: We established Credit Conditions Committees around the world to identify and monitor risks to the interconnected global credit markets and created a coordinated risk perspective across the company.
- Enhance regulatory compliance and analytical quality: We significantly increased staffing to strengthen analytical quality and ensure compliance with new government oversight and laws in the U.S., EU and elsewhere."
For more information about S&P's extensive improvements and the current regulatory framework governing rating agencies, please visit www.ratings.standardandpoors.com/changes.
About Standard & Poor's Ratings Services: Standard & Poor's Ratings Services, part of The McGraw-Hill Companies (NYSE:MHP), is the world's leading provider of independent credit risk research and benchmarks. We publish more than a million credit ratings on debt issued by sovereign, municipal, corporate and financial sector entities. With over 1,400 credit analysts in 23 countries, and more than 150 years' experience of assessing credit risk, we offer a unique combination of global coverage and local insight. Our research and opinions about relative credit risk provide market participants with information and independent benchmarks that help to support the growth of transparent, liquid debt markets worldwide.
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