Standard & Poor's

Downgrade us? Have a lawsuit.

Matt Levine, Bloomberg
January 21, 2014
Why is the Justice Department suing Standard & Poor's for mis-rating structured credit securities before the financial crisis, and not suing Moody's, which gave a lot of the same products the same ratings? I have a theory, but Standard & Poor's has another, and theirs is a corker:

S&P calls U.S. lawsuit ‘retaliation’ for downgrade of U.S.

Karen Gullo, Bloomberg
September 3, 2013
McGraw Hill Financial Inc.’s Standard & Poor’s unit called the $5 billion fraud lawsuit filed against it by the federal government “retaliation” for the ratings company’s downgrade of U.S. creditworthiness.

U.S. outlook revised to stable by S&P as fiscal risks recede

John Detrixhe, Bloomberg
June 10, 2013
The U.S.’s AA+ credit rating outlook was increased to stable from negative by Standard & Poor’s, based on receding fiscal risks, less than two years after stripping the world’s largest economy of its top ranking.

Stephen Colbert on S&P lawsuit

Michael McFarlin
February 21, 2013
A couple of weeks ago, Standard & Poor's was sued by the U.S. government and a number of state governments for allegedly inflating credit ratings. Once again, Stephen Colbert brings his unique take on the S&P lawsuit.

Pursuit of S&P started when toxic debt masqueraded as AAA

Phil Mattingly
February 11, 2013
Frustration with New York-based S&P, the nation’s largest ratings firm, Moody’s Corp. and Fitch Ratings has existed almost since the current administration took office.

S&P penalty may reach $5 billion from U.S. suit over ratings

Phil Mattingly and Edvard Pettersson, Bloomberg
February 5, 2013
The U.S. is seeking as much as $5 billion in penalties from McGraw-Hill Cos. and its Standard & Poor’s unit as punishment for inflated credit ratings that were central to the worst financial crisis since the Great Depression.

McGraw-Hill, S&P sued by U.S. over pre-credit crisis ratings

Edvard Pettersson, Bloomberg
February 5, 2013
McGraw-Hill Cos. and its Standard & Poor’s unit were sued by the U.S. over claims S&P knowingly understated the credit risks of bonds and derivatives that were central to the worst financial crisis since the Great Depression.

U.S. to file civil charges against S&P over crisis bond ratings

Phil Mattingly and Matt Robinson, Bloomberg
February 4, 2013
The U.S. Justice Department intends to file a civil lawsuit against Standard & Poor’s based on ratings in 2007 of certain collateralized debt obligations, the company said today.

Moody’s gets no respect as bonds shun 56% of country ratings

John Detrixhe and Matt Robinson, Bloomberg
December 17, 2012
The global bond market disagreed with Moody’s Investors Service and Standard & Poor’s more often than not this year when the companies told investors that governments were becoming safer or more risky.

S&P ordered by Japan financial watchdog to improve rating system

Takahiko Hyuga and Shigeru Sato, Bloomberg
December 14, 2012
Standard & Poor’s Japan unit was ordered by the nation’s financial watchdog to improve its system for verifying and updating credit ratings in the regulator’s first action against a ratings company.