US DoJ warns S&P of competition concerns over insurance ratings amendments
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US DoJ warns S&P of competition concerns over insurance ratings amendments

Samuel Casey
May 05, 2022
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The US Department of Justice (DoJ) has warned S&P to “carefully consider” proposed amendments to its insurance ratings methodology, which it said appeared automatically to lower ratings of assets rated solely by S&P’s competitors.

In a letter to the ratings agency, the DoJ said that the changes proposed by S&P may affect the incentives of companies to use ratings agencies other than S&P, or invest in assets rated by agencies other than S&P.

“The...

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Samuel Casey
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