S&P back in CMBS rating game

摘要

S&P has returned to rating conduit CMBS deals as it comes in from the cold following a two-year hiatus after allegations that it misled investors. The company had been locked out of rating conduit commercial mortgage bond deals since June 2014, first by getting shunned in the marketplace and then formally with a one-year SEC ban. Though the agency never admitted wrongdoing, it paid a US$77m fine and was barred from rating so-called conduit deals - the most lucrative part of the CMBS space - until January 2016.