Headline Details

Standard & Poor's hit by largest penalty ever levied on credit rating agency

Published on: Wed, 04 Feb 2015 0:50:50 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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