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Tag Archives: Moody’s

With S&P suit settled, Mississippi set to take on Moody’s over flawed investment ratings

By TED CARTER A recent big-dollar settlement with Standard & Poor’s over misleading ratings put on sub-prime mortgage-backed securities before the 2008 financial collapse has cleared the way for Mississippi and Connecticut to resume a similar case against Moody’s Ratings Service. The two states put their action against Moody’s on hold during settlement negotiations with S&P that resulted in a Feb. ...

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Feds, states join Miss. in suing S&P over suspect mortgage bond ratings

Mississippi Attorney General Jim Hood now has ample company in a fight to force Standard and Poor’s to give up hundreds of millions it made in profits in exchange for suspect ratings of mortgage bonds before the financial crisis of 2008. In essence, enforcement actions filed Tuesday by the states and U.S. Justice Department accuse S&P of a rate- for-pay ...

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BREAKING NEWS: Second agency cuts Mississippi Power Co.'s credit rating

JACKSON — Another credit rating agency has downgraded its view of Mississippi Power Co. Two of the three major agencies have now cut ratings after the Mississippi Public Service Commission denied Mississippi Power a rate increase to pay off debt during construction of its $2.8 billion Kemper County power plant. Moody’s Investors Service cut its rating on about $1 billion ...

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State: Moody’s calculations wrong

Managers of Mississippi’s defined public employee pension plan say Moody’s made too broad a calculation in setting the plan’s unfunded liabilities and are want the ratings agency to refigure the assets-to-obligations ratio. Moody’s, which includes pension obligations in its overall rating of a state’s credit worthiness, awarded Mississippi an “Aa” rating last October with an outlook of “stable.” The “Aa” ...

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