Moody’s, S&P Sued by Connecticut AG Over Debt Ratings

Connecticut Attorney General Richard Blumenthal sued rating agencies Moody’s Investors Service (MCO) and Standard & Poor’s on Wednesday, over ratings the agencies issued on investments backed by subprime loans. According to Mr. Blumenthal’s lawsuits, filed in state court in Connecticut, both agencies used “deceptive and misleading” tactics an knowingly assigned “tainted ratings” to these complex and [...]