NEW YORK, July 30 /EMWNews/ -- In response to a lawsuit

filed by the Connecticut Attorney General this morning, The McGraw-Hill

Companies, which owns Standard & Poor's, today issued the following

statement:



    "The lawsuit filed in Connecticut this morning is simply a case of a

state attempting to use litigation to dictate what bond rating it receives.



    "The claims asserted by the Attorney General violate First Amendment

rights - which courts around the country have repeatedly ruled apply to

rating agencies and their opinions - and would result in an erosion of

analytical independence and undermine investor confidence in the market by

allowing ratings to be determined by governmental mandate or the threat of

litigation.



    "S&P is committed to providing investors and the market with

independent and quality ratings opinions. We have worked - and will

continue to work - closely with market participants and government

officials to identify ways we can strengthen our ratings systems, while

protecting the independence of our opinions.



    "The suit is without merit and we will vigorously defend against it."