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Moody's Settles Financial Crisis RMBS and CDO Ratings Allegations for Nearly $864 Million

Moody's Investors Service and Moody's Analytics, the credit rating and credit analysis businesses of Moody's (MCO) , will pay a fine totaling nearly $863.8 million to settle misconduct allegations regarding the company's ratings during the buildup to the 2008 financial crisis.

The U.S. Department of Justice said in a Friday statement that the agreement and fine will settle pending state court lawsuits in Connecticut, Mississippi and South Carolina as well as potential claims from the Justice Department, 18 states and Washington, D.C.

STOCKS TO BUY: TheStreet Quant Ratings has identified a...