Congress presses rating agencies on MF Global

 

By Sarah N. Lynch

Thu Jan 5, 2012 3:26pm EST

(Reuters) – Congressional investigators have launched an inquiry into the work of credit rating firms that examined MF Global Holdings Ltd’s risky bets on European government bonds and whether they overlooked crucial information in their evaluations.

Congressman Randy Neugebauer, who chairs an investigative panel of the House Financial Services Committee, sent letters to Moody’s Corp Chief Executive Raymond McDaniel and Standard & Poor’s Ratings Services President Douglas Peterson asking for detailed information about their procedures for determining MF Global’s credit-worthiness.

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