REUTERS - 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
Moody's and Morgan Stanley did not immediately respond to requests for comment.
(Reporting by Nate Raymond and Jonathan Stempel in New York; Editing by Gary Hill)