Missouri wins $21.5 million settlement from S&P for ratings - KMOV.com

Missouri wins $21.5 million settlement from S&P for ratings

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By Belo Content KMOV By Belo Content KMOV

 JEFFERSON CITY, Mo. (AP) — Missouri will get about $21.5 million for the general revenue fund as part of a national settlement with credit rating agency Standard & Poor's.

 
The ratings agency announced the settlement Tuesday concerning government allegations that it knowingly inflated ratings of risky mortgage investments that helped trigger the 2008 financial crisis.
 
Attorney General Chris Koster and Secretary of State Jason Kander say the credit rating agency agreed to comply with Missouri consumer protection laws as part of the settlement.
 
Gov. Jay Nixon says the money will be used for state veteran's homes, cybercrimes taskforces and domestic violence shelters, among other programs.
 
The state expects to receive the money by March 6.
 
The settlement includes the U.S. Justice Department, 18 other states and the District of Columbia.

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