Diversified Financial Services
Company Overview of Standard & Poor's Ratings Services
Standard & Poor's Ratings Services offers risk analysis and evaluations of the creditworthiness of issuers worldwide. The company offers corporate credit ratings, bank loan ratings, rating evaluation, credit outsourcing, and credit rating research services. Standard & Poor's Ratings Services evaluates the creditworthiness of a range of instruments including long-term debt, commercial paper, preferred stock, bank loans, and private placements for non-financial companies. It serves energy, financial, healthcare, utilities, consumer discretionary, information technology, industrial, and telecommunications sectors. The company is based in New York, New York. Standard & Poor's Ratings Services op...
55 Water Street
New York, NY 10041
Key Executives for Standard & Poor's Ratings Services
Senior Vice President of Finance
Chief Information Officer and Senior Vice President
Chief Legal Officer and Executive Managing Director
Managing Director of Pacific Region
Executive Managing Director of Global Analytics & Operations
Compensation as of Fiscal Year 2013.
Standard & Poor's Ratings Services Key Developments
Standard and Poor's and Royal Bank of Scotland Faces European Derivatives Case in the Netherlands
Dec 6 13
Sixteen European institutional investors are suing Standard and Poor's, and the Royal Bank of Scotland, for $250 million over losses on so-called toxic financial products during the 2007-08 financial crisis. A court official in the Dutch capital confirmed the filing, saying "proceedings are underway in this regard". The investors from Austria, France, Germany and Switzerland want $250 million (€183 million)in damages over financial products which collapsed during the crisis. The products, known as collateralised debt obligations or CPDOs, were created in 2006 and given a top AAA credit rating by SandP before their value crashed.
McGraw Hill Financial Appoints Neeraj Sahai as President, Standard & Poor's Ratings Services
Nov 25 13
McGraw Hill Financial announced that Neeraj Sahai has been appointed President of Standard & Poor's Ratings Services, effective January 6, 2014. Mr. Sahai, currently the head of Citi's Securities and Fund Services (SFS) business who also acts as chief fiduciary officer of Citigroup, succeeds Douglas Peterson, who became president and chief executive officer of McGraw Hill Financial on November 1.
Bear Stearns Hedge Fund Liquidators Sue Against Moody’S, Standard & Poor’S and Fitch
Nov 11 13
Geoffrey Varga and Mark Longbottom, liquidators of the two defunct Bear Stearns hedge funds (Bear Stearns High Grade Structured Credit Strategies (Overseas) Ltd. and Bear Stearns High Grade Structured Credit Strategies Enhanced Leverage (Overseas) Ltd), filed a complaint in New York State Court in Manhattan against Moody’s, Standard & Poor’s and Fitch. They claim the three major rating agencies fraudulently inflated credit ratings to mortgage bonds prior to the financial crisis. They cite many emails indicating that the rating agencies knew their ratings were a sham. The liquidators are seeking damages of more than $1 billion. The demise of the funds in July 2007 is often heralded as the beginning of the financial crisis. The hedge funds’ collapse led to Bear Stearns going out of business. Bear Stearns was eventually bought by JPMorgan Chase in 2008.
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