as a powerful force" for change. Moody's has in fact lost market share in certain sectors due to its tightened rating standards on some asset-backed securities, for example the commercial mortgage-backed securities (CMBS) market in 2007. In April 2013, Moody's, along with Standard & Poor's and Morgan Stanley, settled fourteen lawsuits filed by groups including Abu Dhabi Commercial Bank and King County, Washington. The lawsuits alleged that the agencies inflated their ratings on purchased structured investment vehicles. In January 2017, Moody's agreed to pay nearly $864 million to settle with the Department of Justice, other state authorities and Washington. A fine of $437.5 million would be paid to the DOJ, and the remaining $426.3 million penalty would be split among 21 states and the District of Columbia. Then California Attorney General Kamala Harris and then Missouri Attorney General Joshua Hawley were among the state signatories to the settlement. Global Credit Research In March 2013 Moody's Investors Service published their report entitled Cash Pile Grows 10% to $1.45 Trillion; Overseas Holdings Continue to Expand in their Global Credit Research series, in which they examined companies they rate in the US non-financial corporate sector (NFCS). According to their report, by the end of 2012 the US NFCS held "$1.45 trillion in cash", 10% more than in 2011. At the end of 2011, US NFCS held $1.32 trillion in cash which was already a record level. "Of the $1.32 trillion for all the rated companies, Moody's estimates that $840 billion, or 58% of the total cash, is held overseas." See also Capital IQ Compustat CRISIL ICRA Limited Dominion Bond Rating Service Dagong Europe Credit Rating Dagong Global Credit Rating Global Industry Classification Standard Leveraged Commentary & Data List of countries by credit rating Moody's Aaa Bond Moody's Analytics Reuters Spread Research References External links Moody's Financial services companies established in 1909 Credit rating agencies Multinational companies Financial services companies based in New York City 1909 in economics 1909 establishments in New York City