A jury's $18.8 million judgment against USI Holdings Corp in a copyright case brought by a Philadelphia insurance brokerage firm will not impact USI's rating, Standard & Poor's said yesterday.
The New York-based rating service said it does not consider the verdict a liquidity issue for the firm. S&P said USI, as of March 31, has about $29 million in cash on hand and an additional $74 million under its revolving credit facility.
S&P's rating of USI brokerage is "double-B-minus."
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