Standard & Poor’s Ratings Services has affirmed its ‘A-’ counterparty credit and senior debt ratings on AXIS Capital Holdings Ltd., as well as the ‘A+’ counterparty credit and financial strength ratings on its core operating subsidiaries (collectively, AXIS). The outlook …
Moody’s Investors Service and Standard & Poor’s on Friday said they have settled two long-running lawsuits seeking to hold them responsible for misleading investors about the safety of risky debt vehicles that they had rated. The lawsuits had accused Moody’s, …
A federal judge handed a legal defeat to Standard & Poor’s, ruling that a lawsuit in which Connecticut accused it of fraudulently inflating credit ratings to win business should be moved back to the state court where it began. In …
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 …
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