Ratings

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ItÕ official: S&P to pay record-breaking fine for misleading RMBS investors

Feb 03, 2015By

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.