S&P to face U.S. Justice Department civil suit

Feb 04, 2013, 3:23 PM EST
A sign for Standard & Poor's rating agency stands in front of the company headquarters in New York, September 18, 2012.
AFP/Getty Images/EMMANUEL DUNAND

Standard & Poor's said it expects to be the target of a U.S. Department of Justice civil lawsuit over its ratings of various U.S. collateralized debt obligations (CDO) in 2007. It would be the first federal enforcement action against a credit rating agency over alleged illegal behavior tied to the 2008 financial crisis.

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