Standard & Poors announced Thursday that it would continue to monitor the impact of New York State Attorney General Eliot Spitzers investigation into the trading practices of Bank One Corp., Bank of Americas Nations Funds, Janus Capital, Strong Capital and other fund companies which Spitzer declined to name. The investigation could have an effect on S&Ps ratings of fund companies, S&P said.
However, any settlement or litigation "would need to be of a material size for there to be a ratings impact," S&P said. If this should occur, S&P analysts would study the impact "within the context of a firms ongoing franchise and earnings power," S&P said.
It is too early at this point to know whether Spitzers investigation will have a serious impact, the firm added.