Maine joins national lawsuit against ratings agency

12:25 PM, Feb 5, 2013   |    comments
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AUGUSTA, Maine (NEWS CENTER) - Maine Attorney General Janet Mills says the state is joining a lawsuit that alleges the rating agency Standard & Poor's used deceptive practices that helped lead to the nation's recent financial crisis.

The lawsuit charges and Standard & Poor's (S&P) knew that it was unequipped to analyze the complex securities exchanges at the heart of the collapse. The suit says that S&P continued to give these exchanges AAA ratings - the safest rating possible.

Maine joins with Arizona, Arkansas, California, Connecticut, Delaware, Idaho, Iowa, North Carolina, Missouri, Pennsylvania, Tennessee, Washington and the District of Columbia.


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