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Items Tagged with 'Ratings'

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It’s official: S&P to pay record-breaking fine for misleading RMBS investors

Settlement with DOJ resolves claims of inflated pre-crisis ratings
A credit ratings agency is finally facing the music. As was first rumored in early January, Standard & Poor’s will indeed pay $1.375 billion as part of settlement with the U.S. Department of Justice and nearly 20 states over claims that S&P knowingly misled mortgage bond investors by issuing trumped up ratings for pre-crisis residential mortgage-backed securities.
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S&P tries to prove DOJ lawsuit is about payback

Ratings giant claims downgrade of US debt made S&P a target
Standard & Poor’s is working on its defense to fraud claims levied by the Department of Justice over the firm's pre-housing crisis mortgage-bond ratings. So what is the agency's game plan? S&P is trying to show the DOJ suit is about payback, not bond ratings.
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