Thursday , 21 January 2021

Credit Rater Reaches Settlement With Department of Justice, 19 States over RMBS Ratings

By Brian Honea

New York-based credit ratings agency Standard & Poor’s Ratings Services and its parent company, McGraw Hill Financial, have entered into settlements with the U.S. Department of Justice and Attorneys General of 19 states and the District of Columbia over the misrepresentation of residential mortgage-backed securities and collaterized debt obligations to investors, according to a release from McGraw Hill on Tuesday morning. As part of the settlement, which is not subject to court approval, McGraw Hill agreed to pay $687.5 million to the Department of Justice and a combined $687.5 million to the states and the District of Columbia.

The post Credit Rater Reaches Settlement With Department of Justice, 19 States over RMBS Ratings appeared first on DSNews.

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