NU Online News Service, Oct. 8, 2004, 5:29 p.m. EDT
Standard & Poor’s Ratings Services, New York, has pointed out that the headline of an Oct. 4, 2004, article about its assessment of a life settlement firm was misleading.[@@]
As stated in the article, S&P gave a major life settlement company, Coventry First L.L.C., Fort Washington, Pa., a strong ranking with a stable outlook.
The original headline implied that S&P had given the company a high rating.
The S&P ranking system is different from the S&P rating system because the ranking system does not include a credit analysis, according to an S&P representative.
S&P awarded Coventry First a high ranking because the company has experienced executives and effective policies and internal controls, S&P says.