A federal judge ruled that Connecticut's lawsuit against Standard & Poor's Ratings Services for allegedly misrepresenting that its ratings were independent and objective will be decided in a state court.

U.S. District Judge Stefan R. Underhill said S&P took too long to ask the court to transfer the case to federal court from state court.

"As a general rule, a case originally filed in state court may only be removed within thirty days after the defendant receives a copy of the initial pleading setting forth the claim for relief," Judge Underhill said in his ruling.