McGraw Hill Financial Inc.Moody’s Corp. and Fitch Group Inc. were sued by liquidators of two funds seeking more than $1 billion over allegedly faulty investment ratings, Bloomberg writes.

Geoffrey Varga and Mark Longbottom, the joint official liquidators of Bear Stearns High-Grade Structured Credit Strategies (Overseas) Ltd. and Bear Stearns High-Grade Structured Credit Strategies Enhanced Leverage (Overseas) Ltd., filed the suit in New York State Supreme Court in Manhattan.