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Browse: Home / 2011 / September / 27 / SEC’s Notice to S&P May Signal Enforcement Cases Against Rating Agencies

SEC’s Notice to S&P May Signal Enforcement Cases Against Rating Agencies

By Securities Docket on September 27, 2011, 2:09 pm

Standard & Poor’s, the world’s largest provider of credit ratings, could face claims by the Securities and Exchange Commission related to the top grade it gave in 2007 to a $1.6 billion collateralized debt obligation that was downgraded six months later, McGraw-Hill Cos., S&P’s parent company, said in a regulatory filing yesterday.“This was long overdue. They should have done this in 2007,” said Sylvain Raynes, a principal at R&R Consulting in New York and a former analyst at Moody’s Investors Service. “It’s not just a fishing expedition. They’re very serious about shaking up the ratings world and putting everyone else on notice.”

Read more: SEC’s Notice to S&P May Signal Enforcement Cases Against Rating Agencies — Bloomberg News

Posted in SEC, Top | Tagged Rating agencies

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