Feb 5 Standard & Poor's pledged to "vigorously
defend" itself against a U.S. Department of Justice civil
lawsuit in a statement on Tuesday, saying that emails and
anecdotes cited by the agency do not prove wrongdoing.
"Although we deeply regret that these 2007 CDO ratings did
not perform as expected, 20/20 hindsight is no basis to take
legal action against the good-faith opinions of professionals,"
the McGraw-Hill Cos Inc unit said in an emailed
statement. "The fact is that S&P's ratings were based on the
same subprime mortgage data available to the rest of the
The Justice Department filed a lawsuit against S&P late on
Monday, accusing the ratings agency of improperly rating
mortgage-backed securities for profit.