"Settled" debt on credit file

I have a store card which is marked as "settled" on my credit file. I closed it a few years ago. I wasn't using it. I didn't owe anything on it... the balance was zero. I'm not sure I understand the meaning of "settled" exactly. I thought it had a negative meaning, meaning you'd reached an agreement as to how much you were going to pay, which isn't what happened. Is it okay?

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