April 26 Settlements have been reached in two
long-running lawsuits seeking to hold Moody's Investors Service
and Standard & Poor's responsible for misleading investors about
the safety of risky debt vehicles that they rated.
The lawsuits had accused Moody's and S&P of negligent
misrepresentation over their activities regarding the Cheyne and
Rhinebridge structured investment vehicles.
An S&P spokesman confirmed on Friday that the cases have
settled. Moody's and Morgan Stanley, which marketed both
SIVs and helped structure the Rhinebridge SIV, have also
settled, a person familiar with the matter said on Friday.
Moody's and Morgan Stanley did not immediately respond to
requests for comment.