Headline Details

S&P to pay record $1.4 billion to settle lawsuit over subprime debt ratings

Published on: Tue, 03 Feb 2015 18:16:43 UTC
News Agency: The Independent

Standard & Poor’s, the world’s largest debt-rating agency, has agreed to pay a record penalty in order to settle a lawsuit brought by several state attorney generals over its role in the 2008 financial crisis. The $1.4bn (£925m) settlement is enough to wipe out profits at parent company McGraw Hill Financial for all of 2014.

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