Standard & Poor's Ratings Services, after more than a year of fighting a crisis-era lawsuit, is willing to reopen discussions with the Justice Department to settle the case, the Wall Street Journal reported today. The company isn't in active talks with the Justice Department and no deal is imminent, and while no penalties have been discussed, negotiations would likely focus on a range of several hundred million dollars to around $1 billion. The government had previously demanded more than $1 billion before talks broke down. It then filed a lawsuit in February 2013 seeking $5 billion. S&P's apparent strategy shift is in part tied to a new general counsel taking over at S&P's parent company, McGraw Hill Financial Inc. The company also has generally grown more willing to resolve the lawsuit instead of fighting, according to the people familiar with the matter. S&P has previously called the lawsuit "meritless" and alleged it was retaliation for its 2011 downgrade of U.S. sovereign debt, which the government denied.
