S&P: Australian ruling threatens global business

03/5/2014 | Bloomberg

An Australian judge has ruled that investors were misled by Standard & Poor's triple-A ratings on derivatives that plunged in value during the global financial crisis. S&P attorney Steven Finch says the ruling could put the credit rating agency's global business at risk. "Business would be virtually impossible" if S&P is held liable for investments that drop in value and people are relying on ratings, Finch says.

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