CDR reacts to Richardson's withdrawal

ALBUQUERQUE (KRQE) - A spokesperson for CDR issued a statement in reaction to Richardson's announcement Sunday afternoon.

Spokesperson Allan Ripp praised the governor as an accomplished and capable public official, saying it's unfortunate he won't be able to serve in the Obama cabinet.

He also denied that the contract was an instance of 'pay-for-play.' 

"The firm adamantly doesn't practice pay-for-play under any circumstance on any playing field. It is pay for performance, pay for expertise, pay for track record, and pay for merit," Ripp said. 

Ripp maintains that CDR won the contract based on merit.

"CDR was selected by the New Mexico finance authority after a very rigorous and open review of credentials, expertise, cost and track record with other municipalities and government agencies around the country. CDR delivered exceptional services to the state under the terms of the contract as the states swaps advisor," he said.

Ripp also said the timing is unfortunate and questioned who is leaking this information when Richardson is being vetted for a presidential appointment.