S&P may cut Moody’s ratings

Standard & Poor's said in May it may cut competitor Moody's commercial paper rating after the Financial Times reported that a coding error caused Moody’s to give $4 billion worth of complex debt products a rating four notches higher than they merited.

In putting Moody's rating under review, S&P cited broader declines in revenue that have affected both companies since the collapse of the subprime home loan market sapped new issues of mortgage-backed bonds.

“While the specific potential business an

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