Conn. Settles Bond Ratings Row With Moody's, S&P, Fitch

Law360, New York (October 14, 2011, 7:19 PM EDT) -- Moody's Investors Service Inc., Standard & Poor's Financial Services LLC and Fitch Inc. agreed Friday to credit Connecticut $900,000 to settle a suit claiming the agencies gave artificially low credit ratings to bonds issued by the state and its cities.

The ratings agencies agreed to refund the state the amount it paid for credit ratings of new debt issued in 2009 and 2010, according to the settlement agreements.

In addition to the payment, the agencies agreed to meet with public bond insurers in Connecticut to explain...
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