Seeking Alpha

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.
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs