S&P must fight off lawsuit over CDO rating

Rahul Odedra
27 September 2011

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Standard and Poor's (S&P) has received notice from the Securities and Exchange Commission (SEC) recommending a lawsuit be brought against it over a mortgage-backed security it rated in 2007.

The ratings agency could be hit with a fine and lose any fees it made from the rating action on a collateralised debt obligation (CDO) called 'Delphinus CDO 2007-1'. The Wells Notice from the US regulator...

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