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S&P reaches $1.38 billion settlement with U.S. government, states


    (Reuters) - McGraw Hill Financial Inc and its Standard & Poor Ratings Services unit have reached a $1.38 billion settlement with the U.S. government and several states over ratings of mortgage-backed securities that went sour in the runup to the 2008 financial crisis.

    McGraw Hill said it would pay $687.5 million to the U.S. Department of Justice and $687.5 million to 19 states and the District of Columbia.

    The settlement contains no findings of violations of law by McGraw Hill or its ratings unit, the company said.

    (Reporting by Neha Dimri in Bengaluru; Editing by Kirti Pandey)