Poll results: How important are credit ratings?
By Matthew Wurtzel | March 4, 2013 3:04 pm
Almost 37% of P&I Online readers said credit ratings are very important in investment decisions.
The Justice Department's civil fraud case against Standard & Poor's Financial Services in issuing credit ratings on mortgage-related securities led P&I to ask: How important are credit rating reports in investment decisions?"
About 28% said credit ratings were “somewhat important,” 19% chose “important” and 16% selected "not important, we rely on our own due-diligence."
Last month, the Department of Justice said S&P inflated ratings and understated risks associated with mortgage securities in an effort to gain more business from the investment banks that issued those securities.