NU Online News Service, June 15, 1:05 p.m. EDT
Standard & Poor's revised its outlook to negative on Marsh & McLennan Companies after MMC announced a $500 million settlement with the Alaska Retirement Management Board, but two other rating agencies said the settlement would not have a detrimental impact on the firm.
S&P revised its outlook Monday after MMC announced the settlement on behalf of its consulting firm Mercer on Friday.
In a statement, Laline Carvalho S&P credit analyst said while the settlement removed "significant uncertainty" over the lawsuit, the settlement "exceeded our expectations, and we believe that it raises potential concerns with regard to Mercer's reputation and competitive position on a prospective basis."
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