Editor’s Note: The article has been updated with comments from S&P Global, AM Best, and HR Ratings. In a recent development, the Securities and Exchange Commission (SEC) has imposed a hefty penalty on six leading rating agencies, including Moody’s Ratings by Moody’s Corp. (NYSE:MCO), S&P Global Ratings by S&P Global (NYSE:SPGI), and Fitch Ratings, Inc., for significant lapses in maintaining and preserving electronic communications. The agencies have consented to pay combined civil penalties surpassing $49 million. What Happened: According to an SEC press release on Tuesday, the six rating agen…
