NEW YORK, July 7, 2016 /PRNewswire/ -- A.M. Best Company, Inc. ("A.M. Best") and S&P Global (NYSE: SPGI) today announce that they and S&P Global's recently acquired business unit, SNL Financial LC ("SNL"), which is currently being integrated with the S&P Capital IQ business unit and operated under the S&P Global Market Intelligence brand, have reached an amicable settlement of the copyright infringement lawsuit brought against SNL by A.M. Best.
The settlement agreement, whose specific terms are confidential, fully resolves A.M. Best's 2011 lawsuit regarding SNL's inclusion of A.M. Best Credit Ratings and credit rating action announcements in SNL products. As a result of the settlement, A.M. Best has agreed to provide S&P Global and its subscribers, under license agreements with A.M. Best, A.M. Best Credit Ratings and other proprietary content. S&P Global, S&P Global Market Intelligence and SNL recognize and respect the copyrights and other valuable intellectual property rights in credit ratings, including those of A.M. Best.
About S&P Global
S&P Global is a leading provider of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets worldwide. The Company's divisions include S&P Global Ratings, S&P Global Market Intelligence, S&P Dow Jones Indices and S&P Global Platts. S&P Global has approximately 20,000 employees in 31 countries. For more information, visit www.spglobal.com.
About A.M. Best Company
A.M. Best is the oldest and most widely recognized provider of ratings, financial data and news with an exclusive insurance industry focus. A.M. Best covers 16,000 insurance companies globally through a wide range of analytical resources, references, directories and periodicals that provide insurance professionals and consumers with the critical information they need to make informed business decisions. A.M. Best Credit Ratings are recognized by insurance professionals, brokers, regulators and consumers as a forward-looking, independent and objective opinion regarding an insurer's, issuer's or financial obligation's relative creditworthiness. For more information, visit www.ambest.com.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/sp-global-and-snl-financial-lc-reach-amicable-settlement-with-am-best-company-300295253.html
SOURCE S&P Global; A.M. Best Company, Inc.