rating Agency Moody’s agreed to pay nearly $ 864 million for the termination of the case about the possibility of misrepresentation on the basis of published ratings. The agreement relates to the crisis in the real estate market in 2008. It was signed with the American Federal and regional authorities.
Moody’s has reached an agreement with the Ministry of justice, 21 States and Dystryktem Colombia, reports The Guardian. As pointed out by the Department, it ends allegations that the Agency had contributed to his action before the financial crisis that began in 2008.
the Chairman of the office for Protection of Competition and Consumers filed a case against… “
As indicated in the message, the Ministry of justice, Moody’s failed to cope with their own standards for determining ratings and has not kept his promise of transparency. The massive borrowing in the market hipotecznym in the US has led to the “great depression”. Charges against Moody’s was concerned that the Agency was in charge of the desire to earn high commissions and are not reported transparently toxic loans.
Moody’s has agreed to pay 437,5 million dollars to the Ministry of justice and 426.3 million U.S. dollars. Earlier agreement with the authorities signed a major rating Agency Standard and Poor’s, which paid a total of 1,375 billion dollars.
Moody’s agreed, in addition, the introduction of solutions that should ensure consistent evaluation of the credit rating, including the separation of analysts responsible for the ratings of commercial Affairs.
Fitch maintained the credit rating of Poland:
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