Probe into S&P stepped up

S&P (MHFI -0.6%) faces another investigation as the SEC probes a $1.5B 2011 CMBS deal.

In this instance, CMBS markets were roiled and investors and issuers angered after S&P withdrew its ratings on paper, later saying it found discrepancies in the standards used to rate such deals.

This investigation is in addition to the $5B civil fraud lawsuit launched by the DOJ as well as allegations lobbed by over a dozen states attorneys general.

McGraw Hill Financial (MHFI) dipped on the news, but has since recovered.

Neither Moody's (MCO -1.7%) nor Fitch has yet to face any suits, though MCO slid along with MHFI.

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