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Standard & Poor's, McGraw-Hill

Standard & Poor's and The McGraw-Hill Companies, Inc. (collectively S&P)

In February 2015, Tennessee entered into a settlement with S&P resolving allegations from the State's complaint that S&P misled investors when it rated structured finance securities in the lead-up to the 2008 financial crisis. The State had alleged that, despite S&P's repeated statements emphasizing its credit ratings analysis was independent and objective, the credit rating agency allowed its analysis to be influenced by its desire for increased revenue and market share. These misrepresentations concerned the structured finance securities that S&P rates, including residential mortgage-backed securities (RMBS) and collateralized debt obligations (CDO).

Press Releases

Court Filings


This list includes only significant filings and is not intended to be a complete record of the matter.