Giovedì, 18 Ottobre 2018

Rating-agency probe to conclude in 2013, Italians say


Rome, February 20 - A Lazio Audit Court prosecutor
said an investigation against international rating agencies for
alleged market tampering could close by the year's end, and
fingered blame against agency managers located outside of Italy.
"I hope to close the investigation by the end of 2013
against at least two rating agencies," said Raffaele De
Dominicis during a Rome press conference to mark the end of the
judicial year.
"We are (still) quantifying the damage done to the Italian
State, but from the results of a number of consultations, I can
say that we are (talking about) well over 120 billion euros," De
Dominicis added, confirming figures reported in November.
"By the end of the end of this year, I will send notice to
conduct the investigation outside of Italy.
"We have already heard the Italian representatives of the
companies. They have (denied) their blame, stating that the
analyses of the Italian situation were conducted abroad".
On November 12, the chief prosecutor in the southern
Italian city of Trani announced that Lazio's Audit Court - which
probes government expenditures - had opened an investigation
into alleged market manipulation by two international rating
agencies and estimated damages to the Italian Treasury at 120
billion euros.
Trani Prosecutor Carlo Maria Capristo also announced that
prosecutors there had requested indictments for top management
at Standard & Poor's and Fitch agencies in a parallel
S&P called the Trani prosecutors' accusations "totally
unfounded" and added that the agency will continue to work
"without fear".

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