Giovedì, 20 Settembre 2018

Italian prosecutors request indictment for Fitch, S&P bosses


Rome, November 12 - Prosecutors in the southern
Italian town of Trani on Monday requested managers of Standard &
Poor's and Fitch be indicted for alleged market tampering
related to the international rating agencies' assessments.
Prosecutors said earlier this year that they were
investigating the possibility that "false, unfounded or
imprudent judgements" had unduly affected markets.
Deven Sharma, S&P's president from 2007 to 2011, was one of
seven senior figures linked to the agencies who should be sent
to trial, according to the prosecutors.
In January investigators searched S&P's Milan offices two
days after the agency downgraded Italy along with eight other
countries including France and Spain.
Five days later, Trani prosecutors ordered a search of the
Milan offices of Fitch, the world's second-largest ratings
agency, which downgraded Italy three days later.
The agencies deny any wrongdoing.
Prosecutors said they would not be taking action against
Moody's managers after opening a probe into its decisions.

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