Missouri will receive $21.5 million from credit rating agency Standard & Poors to settle a lawsuit tied to S&P’s rating of mortgage-backed securities in the run-up to the financial crisis. The deal, part of $1.5 billion in settlements by S&P announced Tuesday, prompted Gov. Jay Nixon to release $21.5 million in state funds for seniors, veterans, economic development, higher education and other causes.
According to a statement from the governor’s office, the funds freed up include $8 million for state veterans homes; $4.68 million for the University of Missouri School of Medicine campus in Springfield; $3.5 million for tech startups through the Missouri Technology Corporation; and $1.5 million for local cyber crime task forces.
Nixon praised the work of Attorney General Chris Koster and Secretary of State Jason Kander for their role in securing the settlement.
“I appreciate the hard work of Attorney General Koster and Secretary of State Kander in representing Missouri, which will help provide needed funding for a number of key priorities, including programs for seniors, veterans and local law enforcement,” Nixon said.