
Ratings agencies accept no blame for financial losses

According to The Telegraph, representatives from Moody’s, S&P and Fitch Ratings were repeatedly pressed to apologise for their companies’ failure to spot the growing crisis in the US sub-prime mortgage market.
Frederic Drevon, MD at Moody’s Investor Services, said that, although the company was not satisfied with its ratings of financial products related to the US mortgage market, he would not apologise for losses incurred by investors.
Dominic Crawley, S&P’s head of financial services ratings
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected].
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Insurer
Most read
- FCA confirms 33 broker investigations
- Ataraxia increases its stake in Manchester-based JTS
- Ardonagh buys Alice Castle
- Policy Expert signs six-year £2bn capacity deal with R&Q Accredited Europe
- SEIB adds Lloyd & Whyte CEO to board
- Aviva enters exclusive discussions to buy Azur’s HNW operation
- HDI restructures UK & Ireland operations