United States of America filed a Civil Lawsuit against Standard and Poor's

Feb 6, 2013 11:06 IST

The United States of America on 5 February 2013 filed a civil lawsuit against Standard and Poor's (S&P) the credit rating agency alleging that the agency lied about the nations objectivity and independence by the way it rated the mortgage bonds.

The lawsuit have claimed that as a result of the ratings issued by the S&P, which misrepresented the securities true credit risks the investors, even those who were federally insured financial institution lost billions of dollars on collateralized Debt Obligations.

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Read more Current Affairs on: USA , Standard and Poor’s , S&P , Mortgage Ratings , Debt Obligations

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